The Town of St. Lawrence received an injection of cash of over $1.3 million to aid in the development of an industrial park.
The federal government is providing a non-repayable contribution of $949,947, with the remainder coming from the province in the amount of $365,364.
According to information provided in a release about the funding support, the Town of St. Lawrence hopes to start development of the park this spring. The area will feature eight fully serviced lots.
Through the development, the town hopes to increase community capacity and develop infrastructure to foster business development, create partnership opportunities and support long-term economic growth in the region.
“This project will certainly bring employment opportunities to our community and attract and support businesses in offering services to the mining and aquaculture sectors,” St. Lawrence Mayor Paul Pike said in the release.
“We are so pleased that this will enhance the economic growth and sustainability in our town and region. We thank all levels of government – federal, provincial and municipal – for their partnership and insight in this endeavour.”
Carol Anne Haley, MHA for Burin–Grand Bank, said in the release that she has worked closely with the town to help this project move forward and create economic growth for the peninsula.
Haley also stated in the release that with production underway at Canada Fluorspar Inc. and future production of Salmon at Grieg NL’s hatchery in Marystown, the park could prove helpful for businesses providing services to the mining and aquaculture sectors.