Dec. 17, 2009
FREDERICTON (CNB) - Three companies in Fredericton will expand and hire new employees with help from the NB Growth Program, Business New Brunswick Minister Victor Boudreau announced today.
He was joined by Finance Minister Greg Byrne; Christian Couturier, director general of the National Research Council Institute for Information Technology; and Jill Green, chief executive officer, Green Images Technologies Inc.
"We are committed to helping New Brunswick companies become more efficient and competitive right here at home," said Boudreau. "I am proud to help these three companies maintain 19 positions and create at least three more in the Fredericton area. Our province's economic success depends on the growth of our local entrepreneurs, and these companies are a testament to the supportive business climate in New Brunswick."
Green Imaging Technologies Inc. is one of three companies receiving NB Growth funding. The company received $40,650 to relocate and renovate a new office with laboratory space, buy new equipment and hire two new staff. The company currently employs seven people.
"Green Imaging Technologies Inc. has developed a specialized product for the world energy industry that provides information on the amount of oil and gas in the ground and the best way to remove it," said Green. "The assistance we have received from Business New Brunswick has allowed us to launch into the global marketplace while maintaining strong roots in New Brunswick. In three short years, we have gone from a start-up to a global competitor."
The company previously received a contribution from the National Research Council's Industrial Research Assistance Program to increase its innovation capacity, and got its start in NRC-IIT's Industry Partnership Facility in Fredericton.
"Small businesses such as these are the backbone of our economy," said Boudreau. "Our support will help these companies develop innovative new products and appeal to larger markets as they continue to grow. Our promise as a government is to put New Brunswick companies on the path to success as we work toward self-sufficiency."
Business New Brunswick launched the NB Growth Program in October 2007, and its $3-million budget has already supported company start-ups and expansions in every region of the province.
The program provides eligible entrepreneurs up to $100,000 to establish a new business and up to $60,000 to expand, diversify, or improve productivity at an existing business.
EDITOR'S NOTE: Following is a list of the other two Fredericton companies that have received financial support under the NB Growth program. MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick, 506-453-2694, email@example.com; Jill Green, Green Imaging Technologies Inc., 506-458-9992, firstname.lastname@example.org.
Two other companies in greater Fredericton have received support from the NB Growth program: