Ottawa Investing $1.2M In Growing Fredericton Businesses

More than $1.2 million in federal funding will towards supporting business growth for projects in Fredericton.

Fredericton Member of Parliament Jenica Atwin announced a total investment of $1,200,964 through the Atlantic Canada Opportunities Agency’s Jobs and Growth Fund for seven projects that are expected to create up to 66 new jobs.

The fund is providing $700 million over the next three years to stimulate economic recovery across Atlantic Canada following the COVID-19 pandemic.

“Investing to help job creators prepare for future opportunities is critical to growing the Atlantic Canadian economy,” said Atwin in a news release.

“This funding will help Fredericton businesses take advantage of new opportunities and jobs right here at home.”

Six organizations are set to receive funding:

  • iTacit Healthcare Inc. — $50,000
  • Greater Fredericton Social Innovation Inc. — $163,700
  • SomaDetect Inc. — $50,000
  • Bio NB — $225,913
  • New Brunswick Community College — $350,000
  • O.G. Ales — $265,801

“The Government of Canada recognizes that the vitality of our business communities across Canada is key to economic recovery,” said Ginette Petitpas Taylor, the minister responsible for the ACOA, in a release.

“Investing in local businesses and the organizations that support them helps create jobs, supports inclusive and clean growth opportunities, and builds resiliency so that companies are well equipped for future growth.”

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