May 6, 2022 · Doyles, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
A key part of Canada's economic recovery is supporting businesses as they adapt, grow and recover from the COVID-19 pandemic. Small and medium-sized businesses and the organizations that support them represent the backbone of regional economies. They generate good paying jobs and are a source of pride for their communities. To do so, businesses and entrepreneurs need a strong foundation, built on technological innovation, inclusivity, and clean growth to create the workforce of the future.
Federal investments support business growth
Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Member of Parliament for Long Range Mountains, announced a total investment of $357,500 through the Jobs and Growth Fund (JGF) for two projects in Western Newfoundland. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
A repayable investment of $200,000 is helping Gale's Septic Cleaning Limited upgrade its wastewater treatment facility with green technology to offer an environmentally sustainable service to businesses, municipalities and industries such as aquaculture in Newfoundland and Labrador.
In addition, 3 T's Limited is receiving a $157,500 repayable investment to enhance its live hold storage for lobsters, which will improve product quality and value for international markets.
Launched in July 2021, the Jobs and Growth Fund (JGF) provides $700 million over three years to Canada's regional development agencies to support a regional response and stimulate economic recovery following the COVID-19 crisis by investing in projects that will help to create jobs. Through the JGF, the Government of Canada aims to support the transition to a green economy, foster an inclusive recovery, enhance competitiveness, and create jobs in every corner of the country.
