Over $241,000 Supports Opportunities in Labrador West

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Over $241,000 Supports Opportunities in Labrador West

by ahnationtalk on October 21, 2015339 Views

October 20, 2015

Stimulating Economic Growth Through Responsible Investments

The Honourable Paul Davis, Premier of Newfoundland and Labrador, was joined today by Nick McGrath, MHA for Labrador West, to announce over $241,000 to support regional and business development opportunities in Labrador West.

“Our government is 100 per cent behind the people, businesses and municipalities in Labrador West and we offer our support as residents and businesses work together to face some economic challenges in the area. Through an investment in these projects, we are recognizing current impacts of changes in the mining industry, supporting community development and encouraging small business growth, while providing necessary upgrades to existing regional infrastructure and services. By working together, we will identify and develop opportunities in Labrador West.”
– The Honourable Paul Davis, Premier of Newfoundland and Labrador

A total of $241,379 will support the following six entities. Further information can be found in the backgrounder below:

  • Cain’s Quest
  • Labrador Rewinding Inc.
  • Labrador West Chamber of Commerce
  • Town of Labrador City
  • Town of Wabush
  • White Wolf Snowmobile Club

“The tourism industry in Labrador West has potential for growth and expansion. Our support of Cain’s Quest, the White Wolf Snowmobile Club and the enhancement of trail systems are important to the tourism potential of the area. I commend the towns of Labrador City and Wabush, the Labrador Chamber of Commerce, along with local business, for working together to maximize opportunities for economic growth and diversification.”
– The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development

The Regional Development Fund provides support by way of non-repayable contributions to organizations for the development and implementation of economic initiatives.

“Labradorians are resilient and positive, and with the challenges posed by the downturn in global iron ore prices, I am pleased to see businesses and individuals moving forward. As a government we are happy to invest in organizations and businesses that promote the economic value of the region, as well as the tourism potential.”
– The Honourable Keith Russell, Minister of Labrador and Aboriginal Affairs Office

The Business Investment Fund is designed to assist Newfoundland and Labrador small and medium-sized enterprises with opportunities to increase their productivity and improve their competitiveness.

“Government is very pleased to work with and support the people of Labrador West during this difficult downturn in the region. Together with these investments from government, our goal is to help support economic growth and diversification in Labrador West.”
– Nick McGrath, MHA for Labrador West

The goal of the Department of Business, Tourism, Culture and Rural Development is to support a vibrant, diverse and sustainable economy, making Newfoundland and Labrador a national and international business and tourism destination of choice.

QUICK FACTS

  • The Honourable Paul Davis, Premier of Newfoundland and Labrador, was joined today by Nick McGrath, MHA for Labrador West, to announce over $241,000 to support growth opportunities in Labrador West.
  • Funding will support the following six entities: Cain’s Quest, Labrador Rewinding Inc., Labrador West Chamber of Commerce, Town of Labrador City, Town of Wabush and the White Wolf Snowmobile Club.
  • The Business Investment Fund is designed to assist Newfoundland and Labrador small and medium sized enterprises with opportunities to increase their productivity and improve their competitiveness.

– 30 –

Media contacts:

Heather MacLean
Director of Communications
Office of the Premier
709-697-4137
[email protected]

Donna Ivey
Special Assistant, Communications
Office of the Premier
709-729-3551
[email protected]

Tansy Mundon
Director of Communications
Department of Business, Tourism, Culture and Rural Development
709-729-4570, 693-1865
[email protected]

Linda J. Walsh
Communications Manager
Government Members Office
709-729-0898, 691-2960
[email protected]

———–

BACKGROUNDER

Cain’s Quest – Cain’s Quest Snowmobile Endurance Race, which was launched in 2006 and occurs every two years, has been described as the ultimate in extreme racing. The 2016 race route offers 3,000 kilometres of high energy racing, making this race the longest race of its kind in Canada, attracting racers from across the country as well as various U.S. states. The Provincial Government is providing $95,000 to Cain’s Quest to support the implementation of the 2016 race, which will kick off in Labrador City on March 5, 2016.

Labrador Rewinding Inc. – Labrador Rewinding Inc. started in 1994 and specializes in repair of electrical motors and has since expanded into a wide array of products and services. The company provides the iron ore mines in Labrador West and Quebec with the following products; electric motor repair, rebuilds, calibration and the sale of new electrical motors and generators. Approximately $66,000 will be provided through the Business Investment Fund to the company to target new markets in Suriname in South America. Specifically the funding will support marketing and training for employees.

Labrador West Chamber of Commerce – The Labrador West Chamber of Commerce will receive $10,953 under the Regional Development Fund to hire a consultant to conduct research on the economic impact in Labrador West of recent changes in the mining sector.

Town of Labrador City – In 2011, the Labrador West Recreation Master Plan highlighted the planning process should commence on a recreational multiplex. A Provincial Government contribution of $38,409 through the Regional Development Fund will allow the Town of Labrador City to hire a consultant to complete a condition assessment, site investigation and a concept design study.

Town of Wabush – The towns of Wabush and Labrador City are working conjointly to enhance the trail systems within Labrador West. The Town of Wabush applied on behalf of both towns seeking financing to hire a consultant to develop a report on existing and new trail systems. Approximately $5,800 is being provided through the Regional Development Fund.

White Wolf Snowmobile Club – The White Wolf Snowmobile Club was incorporated in 1997 to enhance recreational snowmobiling and to help develop the snowmobiling industry in Labrador. The organization grooms over 500 kilometres of trail and works in partnership with other snowmobile clubs to promote snowmobiling as a destination activity. The Provincial Government is supporting upgrades to the club’s aging infrastructure through an investment of $25,000 from the Regional Development Fund. Repairs and enhancements will be made to the clubhouse and groomer garage to ensure continued operations. The clubhouse is a significant revenue generator for hosting local, provincial, national and international events for various organizations.

NT5

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