NACKAWIC (GNB) – The federal and provincial governments are providing a combined investment of close to $250,000 to help a Nackawic company, Riverbend Log Homes.

The funds will help the company expand its markets by adding a new sanding and staining building, and upgrading equipment.

“A stronger economy is a vital part of the provincial government’s plan for rebuilding New Brunswick,” said York North MLA Kirk MacDonald. “This investment will allow the operation to increase its production and seek greater opportunities.”

MacDonald attended the event on behalf of Economic Development Minister Paul Robichaud.

“The government's top priority is jobs, growth and long-term prosperity for Canadians as we build through these challenging economic times,” said Tobique-Mactaquac MP Mike Allen. “The government’s investment in Riverbend Log Homes will allow this New Brunswick company to modernize its facility and enhance its productivity and competitiveness.”

Allen attended the event on behalf of Bernard Valcourt, minister of state for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie.

The federal government, through ACOA's Business Development Program, is providing a repayable contribution of $170,750 toward the project. ACOA is also providing $7,500 toward the hiring of a consultant to help assess opportunities for improvements in productivity and performance. The provincial government is investing $60,000.

“On behalf of the new owners and staff of Riverbend Log Homes, I would like to thank the federal and provincial governments for the support they have provided,” said Ronald Blaney, president of Riverbend Log Homes. “With this assistance, we have been able to make numerous improvements to our office and warehouse equipment as well as construct a new staining building. At the same time, we were able to maintain and create jobs for the people of this region.”