March 1, 2010
MONCTON (CNB) - The provincial government is investing in a project to expand Moncton Industrial Park.
The project involves the development of 49 ha (121 acres) in the industrial park; new paved streets, water and sewer lines; and a realignment of an intersection and improvements to Berry Mills Road.
"We are proud to support this expansion because it creates more opportunities for business to succeed in Moncton," said Business New Brunswick Minister Victor Boudreau. "We know this park has sold every lot in its present location, and it needs to make more land available for businesses. We are pleased to participate in this project."
Business New Brunswick is contributing a $910,000-forgivable loan toward the $7-million project.
"Moncton's phenomenal growth has put extra pressure on our park to develop serviced lots," said Mike Mann, president of Moncton Industrial Development Ltd. (MID). "This expansion, along with our 2008 development at Caledonia Industrial Estates, is designed to help us secure new clients and provide much-needed industrial real estate for Moncton's business community."
The City of Moncton and the Moncton Chamber of Commerce jointly established MID in 1959 as a non-profit corporation to develop a new industrial park. Today, MID owns and operates Moncton Industrial Park and Caledonia Industrial Estates.
Boudreau said that investing in the industrial park is part of Business New Brunswick's strategy to attract new companies and help existing ones grow.
"By building industrial capacity in Moncton, we are providing opportunities for business to thrive and expand," said Boudreau.
MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick, 506-461-0942, firstname.lastname@example.org; Peter Belliveau, general manager, Moncton Industrial Development, 506-857-0700, email@example.com.