Regional Development Corporation
Investment in Arbec Forest Products26 January 2018
MIRAMICHI (GNB) – Opportunities NB and the provincial government are investing up to $1 million to support a $10-million upgrade of Arbec Forest Products production facilities in Miramichi.
The investment in the facility on Water Steet, which produces oriented strand board for the construction industry, will secure new equipment and technology that will increase productivity and quality control, maximize raw materials, be more environmentally-friendly and improve overall competitiveness.
“It is encouraging that a company like Arbec is interested in making new capital investments of this size,” said Transportation and Infastructure Minister Bill Fraser, who is also minister responsible for the Regional Development Corporation. “It is a real testament to the continued growth of the New Brunswick economy and to the productivity of the workforce here in Miramichi. These are exactly the kind of investments that the government should be supporting. It is another example of how your government is getting things done on behalf of working families.”
The provincial investment of up to $1 million is in the form of a non-refundable contribution, with $500,000 coming from Opportunities NB and $500,000 from the Miramichi Regional Economic Development and Innovation Fund.
Opportunities NB is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.
Production at Arbec’s Water Street plant has significant secondary economic benefits by supporting jobs in the forestry and transportation sectors.
“Opportunities NB and the Province of New Brunswick have been real partners in our efforts to grow production at our Water Street facility,” said mill manager Les Flett. “We have enormous confidence in the skills of our workforce here in Miramichi and we hope that the more than $10-million worth of capital investments we are making speak to that very clearly.”
Arbec purchased the Miramichi plant in 2011 and began production in 2012 following renovations. The company currently employs 124.