The Government of Canada is providing repayable funds estimated at $326,250 for a new project that will assist the work of Tire Recycling Atlantic Canada Corporation (TRACC) and enable modernization and production growth at its Minto plant, Pat Finnigan, Member of Parliament for Miramichi-Grand Lake district announced late March.

The investment will help TRACC invite 8 more specialists and expand production to be able to compete on the market. The move is seen as a step forward in implementation of Atlantic Growth Strategy that seeks creation of a long-term economic prosperity in Miramichi-Grand Lake district.

Commenting on the funds’ provision, Pat Finnigan said that by financially supporting “clean technologies”, more well-paying jobs will emerge in Minto facility – this will benefit the entire district.

Steven Richardson, owner of TRACC has also voiced his opinion about the government’s move saying that the funds will help the group to grow and improve by investing in equipment and providing jobs to hard-working individuals who will join the team.

The state funding worth $326,250 comes as part of ACOA’s Business Development Program (BDP). This initiative mainly provides help to Atlantic Canadian businesses that plan start-ups creation, want to boost production, or advance existing operations.

Article by Mirage News.