May 3, 2010
FREDERICTON (CNB) - The provincial government is investing more than $14,000 to support job growth and expansions at three companies in northern New Brunswick through the small business program, NB Growth.
"This program is critical to helping small companies realize their potential and their ability to contribute to our shared goal of self-sufficiency as a province," said Business New Brunswick Minister Victor Boudreau. "We are working hard to build confidence among entrepreneurs as they bring stability and vibrancy to northern New Brunswick communities. We are proud to support them as they buy new equipment, hire staff and expand their market reach."
The companies that received funding include Kan-Go-Roo Playgrounds Ltd., in Atholville, G.P. Transmission, Parts and Service Inc., in Campbellton and Jade Décor Inc., of Saint-Quentin. The assistance of $14,030, will create up to five new jobs over four years and maintain 25 jobs at these companies.
Launched in October 2007, the NB Growth 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.
Since inception, the NB Growth program has approved 139 projects worth $5,733,167. Last month, the provincial government committed an additional $3 million to the program for fiscal 2010-11.
"We are seizing every opportunity to create jobs and wealth in all regions of New Brunswick," said Boudreau. "I am confident that by lowering taxes, investing strategically in businesses and helping companies expand and explore new markets, we are creating the best possible business environment in the country."
EDITOR'S NOTE: A list of Restigouche-area companies that received grants under the NB Growth program follows. MEDIA CONTACT: Ashley Bursey, communications, Business New Brunswick, 506-461-0942. email@example.com.
Restigouche-area companies that received NB Growth grants
Kan-Go-Roo Playgrounds Ltd. manufactures playground equipment and after-market ATV accessories. The company was approved to receive $4,290 to purchase a power paint gun system, to increase productivity and reduce production costs. The project will help maintain 15 jobs.
G.P. Transmission, Parts and Service Inc. rebuilds engine transmissions. The company received $6,000 to purchase new testing equipment. The project maintains 10 jobs and is expected to create one additional position within the next year.
Jade Décor Inc. is a start-up company that will make wreaths and sell them online. The company received $3,748 to purchase equipment. The project is expected to create four jobs by 2012.