BALMORAL (GNB) – The provincial and federal governments are investing more than $1 million in a new manufacturing plant in Balmoral as well as in upgrades to the community’s infrastructure.

With the funding announced today, Cèdres Balmoral ltée will build a manufacturing facility to produce cedar mulch, and the Village of Balmoral will improve its services to the community.

"A stronger economy is a vital part of our plan for rebuilding New Brunswick," said Economic Development Minister Paul Robichaud. “Our investment in a new facility at Cèdres Balmoral ltée will allow the operation to increase its production and create new jobs."

The mulch that will be manufactured will be made from waste bark and fibre that already exist at the company’s manufacturing plant. As a result, Cèdres Balmoral ltée will be able to strengthen its position in the wood processing industry and provide a product that is 100-per-cent value-added.

"Our government's top priority is the economy and jobs for Canadians," said Bernard Valcourt, minister of state for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie. "Our investments will allow Cèdres Balmoral ltée to modernize its facilities, increase productivity and foster diversification of its activities. By supporting projects such as these, we are investing in the families and the youth of our region and in the future they can help build here, as part of a vibrant community."

The federal government is investing $500,000 through ACOA's Business Development Program and $50,000 through ACOA's Productivity and Business Skills Program. The provincial government is investing $260,000, while Cèdres Balmoral ltée is contributing $495,000.

"This project will allow us to maximize our production of value-added products without increasing our need for wood fibre,” said Jacques LeVasseur, president and chief executive officer, Cèdres Balmoral ltée. “Furthermore, ACOA's contribution under the Productivity and Business Skills Program has enabled us to hire someone whose responsibility is to identify opportunities to develop products related to our industry. The support received from our two governments is a key component to the advancement and the continued development of small businesses such as Cèdres Balmoral ltée, and for that, we are grateful."

The federal government is also investing $200,000 through ACOA's Innovative Communities Fund to the Village of Balmoral to improve the community’s water and wastewater services and to develop Industrielle Street to make it more accessible to businesses in the region. The provincial government is contributing $169,291, while the Village of Balmoral is investing $138,586.

"Thanks to the federal and provincial governments' investments, as well as the municipality's contribution, Balmoral will now have an industrial area that offers quality essential services,” said Balmoral Mayor Hébert D. Arseneault. “We can now pursue our goals toward sustainable development and enhance the vitality of our community, economically, socially and environmentally."