Business New Brunswick

Province helps two Madawaska-area companies expand (10/05/05)

NB 670

May 5, 2010

FREDERICTON (CNB) - The provincial government is supporting expansions at two Edmundston (Saint-Jacques area) companies through investments totalling $15,890 from the small business program, NB Growth.

"We are proud to support the dreams of northern New Brunswick entrepreneurs with this program," said Business New Brunswick Minister Victor Boudreau. "NB Growth is an essential part of our plan to strengthen the economy through strategic investments in growing companies. We are pleased to assist these two companies as they buy new equipment, hire staff and expand their market reach."

The funding to Prima Innovations Inc./Navigloo and Auberge Les Jardins Inn will maintain 15 existing jobs and create up to four new positions, all in Edmundston.

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.

"These are relatively small investments that add up to a big payoff for the communities in which these businesses operate," added Boudreau. "With help from NB Growth, these companies can expand their workforce and invest in their own future. Their success and growth will help us all achieve our common goal of self-sufficiency by 2026."

10/05/05

EDITOR'S NOTE: A list of Madawaska-area companies that received grants under the NB Growth program follows. MEDIA CONTACT: Ashley Bursey, communications, Business New Brunswick, 506- 461-0942. ashley.bursey@gnb.ca.

Madawaska-area companies that received NB Growth grants

Prima Innovations Inc./Navigloo assembles and distributes plastic frames and tarp systems for boat storage and protection. The company received $7,335 to purchase specialized moulds to increase production speed and reduce costs. The project will maintain three jobs and is expected to create another two.

Auberge Les Jardins Inn is a 4.5-star inn that has received $8,155 to purchase an online reservation and property management system to improve market visibility and increase productivity. The project will maintain the equivalent of 12 positions and is expected to create two more.

10/05/05