July 24, 2018, GRAND FALLS (GNB) – One of North America’s leading manufacturers of polytetrafluoroethylene, a type of polymer, is undertaking a $358,000 capital investment at its Grand Falls factory with support from the provincial and federal governments. The investment by Enflo Canada is expected to create four additional full-time jobs.
“Growing the economy and creating jobs has been the focus of our government for each of the last four years,” said Victoria-La Vallée MLA Chuck Chiasson. “By implementing the New Brunswick Economic Growth Plan, and by making smart, strategic investments to grow exports at companies like Enflo, we are getting things done on behalf of this province’s working families.”
Chiasson spoke on behalf of Economic Development Minister Francine Landry, who is also the minister responsible for Opportunities NB.
Enflo Canada’s investment will go towards the design, construction and purchase of three automated extrusion machines. These machines will help the company meet the increased market demand for its products.
“I am pleased that the Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is supporting Enflo’s efforts to increase their production capacity and thereby compete successfully in the global marketplace with increased exports and sales,” said Tobique-Mactaquac MP T.J. Harvey. “This investment will create at least four new jobs in our community and will benefit economic development throughout the region.”
Harvey attended for federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for ACOA.
It is estimated that creating these new jobs would contribute $1.1 million in direct GDP for the province over six years, and generate $128,000 in provincial income taxes over the same period.
To support this capital investment, the company is eligible for a contribution of $35,750 from Opportunities NB, which is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across New Brunswick.
The Regional Development Corporation is also supporting the project with a contribution of $53,625.
The federal government is providing a $90,000 repayable contribution through ACOA’s Business Development Program.
“This investment comes at the perfect time,” said Enflo Canada president and CEO Mark Lamoureaux. “We have been experiencing significant growth in demand for our products recently, and this new equipment will help us improve product quality, performance and productivity. We would like to thank our federal and provincial partners for their support in helping us grow our export operations and for making it possible for us to create additional jobs here in Grand Falls.”
Enflo Canada provides specialized plastics for a wide range of sectors, such as oil and gas, chemical processing, food and beverage, electronics and electrical, energy, industrial, construction, automotive and aerospace and defence.
Jeff Hull, communications, Opportunities NB, 506-453-8694, firstname.lastname@example.org.