September 21, 2023, FREDERICTON (GNB) – The southeast region’s economic success was celebrated today at the New Brunswick Business Growth Summit in Moncton.
The summit was an opportunity for companies to share their success stories and gain knowledge through live demonstrations, information sessions and networking.
Greg Turner, minister responsible for Opportunities NB and minister responsible for economic development and small business, said the government continues to support accelerated investment and growth in the region.
“We have in southeastern New Brunswick a logistics hub rife with opportunities in the manufacturing sector, with a strong supply chain and distribution channels to support continued growth,” said Turner. “Opportunities NB is making targeted investments to continue this positive momentum and help companies reinvest in their operations to gain market advantage.”
Opportunities NB’s 2023-24 budget includes funding to help manufacturers invest in innovation and productivity advancements and enhance their competitiveness domestically and globally.
Southeast Welding Ltd. of Cap-Pelé is acquiring new production equipment – a computer numerical control lathe machine – to increase productivity in its custom fabrication and welding facility. The company makes seafood processing equipment that helps crab and lobster plants improve efficiency and profitability. Opportunities NB is providing a $64,373 conditionally repayable loan to support a $257,493 investment by the company.
“Through Opportunities NB’s assistance, and with the purchase of this machine, we are now in a better position to increase productivity, reduce costs and grow export sales – all while addressing labour force challenges,” said Denis Petitpas, president of Southeast Welding Ltd. “With the shortening of manufacturing time and saving on component costs, our end products can now be tailored to customer requirements.”
Sparta Manufacturing Inc., a manufacturer of custom industrial waste sorting systems, based in Notre-Dame, will receive up to $450,000 in a payroll rebate from Opportunities NB for creating 53 full-time positions over the next three years. Opportunities NB is also providing $25,000 to support the company’s investment in a new innovative separator, and $25,000 for marketing to support commercialization of the new equipment.
“One of the top benefits of doing business in New Brunswick is on the human resource side of things. The people of New Brunswick are trustworthy, hard-working, and there is a real sense of pride in a job well done,” said Bruno Lagacé, president of Sparta Manufacturing Inc. “This is a winning combination for us on the world stage and we are very proud of the team we have put together.”
New Brunswick’s manufacturing sector led the country in sales growth in 2022. It was also highlighted during the summit that the Greater Moncton region is now the fastest-growing metropolitan area in Canada due to unprecedented population growth.
“We are seeing unparalleled growth in the Greater Moncton community,” said John Wishart, CEO of the Chamber of Commerce for Greater Moncton. “Population growth, immigration, building permits… there is a lot of confidence and investment interest in our region.”
Opportunities NB is a Crown corporation and the lead economic development agency for the province. It seeks to attract and support opportunities to stimulate the economy and create jobs by providing support services for businesses across the province.
Michel LeBlanc, communications, Opportunities NB, email@example.com.