Federal Government Supporting Upgrades at Tire Recycling Atlantic Canada Corporation

From: Atlantic Canada Opportunities Agency

March 28, 2019 – Minto, NB – Atlantic Canada Opportunities Agency

Supporting businesses in rural communities helps create opportunities for business growth, well-paying jobs for the middle-class, and for those looking to join it.

Thanks to support from the Government of Canada, Tire Recycling Atlantic Canada Corporation (TRACC) will modernize its operations and increase production at its Minto facility, enabling the company to hire up to eight new employees and grow market opportunities.

The Government of Canada is providing a repayable contribution of $326,250 for this project.

Pat Finnigan, Member of Parliament for Miramichi-Grand Lake, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), along with TRACC officials, made the announcement today.

The Government of Canada is making smart investments that will create good, middle-class jobs in our country. It is helping small and medium-sized businesses to start-up, expand, or modernize and is supporting not-for-profit organizations to fuel business growth. Support for this project is one way the Government of Canada is working to achieve its Atlantic Growth Strategy outcome of long-term economic prosperity in the region.

"The Government of Canada is committed to helping Atlantic Canadian businesses in rural communities grow and excel. Through ACOA, we are making strategic investments in companies like TRACC that are taking steps to expand and contribute to the growth and diversification of their local economies."

- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

"I am pleased that our government is supporting TRACC's efforts to increase its production capacity and thereby compete successfully in the global marketplace with increased production and sales. This investment in clean technologies will mean more and better-paying jobs in Minto, which benefits our entire region."

- Pat Finnigan, Member of Parliament for Miramichi-Grand Lake

"On behalf of all of us at Tire Recycling Atlantic Canada Corporation (TRACC), I want to thank ACOA for providing us with the ability to modernize our operations and purchase new equipment. This investment will allow us to continue to grow our business and to hire new employees. We are proud to be a leader in recycling innovation, employing many hard-working people in Minto to produce value-added green products for world markets. Our success would not be possible without our dedicated employees who have helped us throughout the last 22 years."

- Steven Richardson, Owner, Tire Recycling Atlantic Canada (TRACC)

Quick facts

  • The Government of Canada invested $326,250 in this project through ACOA's Business Development Program (BDP).

  • The BDP primarily assists Atlantic Canadian entrepreneurs who want to start a business, increase productivity, or improve operations. Investments under the BDP address any gap that may arise if an application does not fit within ACOA's Regional Economic Growth through Innovation (REGI) program.

  • TRACC is the largest, most comprehensive recycling facility in Atlantic Canada.

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