Regional Development Corporation
Discovery Drill to create 15 jobs in Beresford14 May 2018
BERESFORD (GNB) – Discovery Drill will create 15 jobs in Beresford by the end of 2019 with support from the provincial and federal governments.
“Your government has been working every day to support the growth of innovative companies like Discovery Drill,” said Education and Early Childhood Development Minister Brian Kenny. “New Brunswick’s multi-year economic growth plan focuses our efforts on job opportunities. It is great to see a New Brunswick-based company invest and grow in its home province because we have such a strong workforce to offer.”
Kenny spoke on behalf of Economic Development Minister Francine Landry, who is also the minister responsible for Opportunities NB.
To support the creation of the jobs, the company is eligible to receive investments from the Atlantic Canada Opportunities Agency (ACOA), the Regional Development Corporation and Opportunities NB, which 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.
The Regional Development Corporation is providing a $200,000 non-repayable contribution, while Opportunities NB is providing a $50,000 non-repayable contribution. ACOA is providing a $150,000 loan.
“Discovery Drill has built upon a long history of expertise in drilling with this new prototype,” said Acadie-Bathurst MP Serge Cormier. “Innovation is critical to the economic future of our region, and the development of this new drill will mean spinoff benefits for numerous area suppliers. I am pleased that our government’s support through ACOA has helped Discovery Drill innovate and develop a one-of-a-kind diamond drill.”
Cormier attended for federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for ACOA.
The creation of 15 jobs is estimated to contribute $150,000 in provincial tax income over three years and $860,000 to the provincial GDP over the same period.
“This expansion is a big accomplishment for the Discovery Drill family,” said John Labonville, company president. “To compete in our industry we must continue to innovate. The support of the Government of Canada and the Province of New Brunswick has been a big help in taking our products to the next level. We know our clients will be as excited as we are about our next generation of products.”
Since its founding in 1999, Discovery Drill has acquired clients in North America, South America, Africa and Europe.