$3.5 MILLION BOOST FOR ST. JOHN’S METRO BUSINESSES

(July 23rd)

Nine businesses in the St. John’s metro region are set to benefit from more than $3.5 million in federal funding through a program aimed at helping companies grow and adapt to changing global trade conditions.

The funding, totalling $3,565,000, was announced on July 16 by Tom Osborne on behalf of the Atlantic Canada Opportunities Agency (ACOA).

The investment comes through the Regional Tariff Response Initiative (RTRI), which supports businesses looking to modernize their operations, improve productivity, strengthen supply chains, and expand into new markets.

ACOA says the funding will allow participating businesses to invest in new technologies, improve efficiency, diversify their operations, and reach additional customers. The projects are also expected to support employment while strengthening industrial capacity across the St. John’s metro area.

The businesses receiving funding include Browning Harvey Ltd., Newdock (St. John’s Dockyard Ltd.), Virtual Marine Technology Inc., Solace Power Inc., Compusult Ltd., GRi Simulations Inc., Jumping Bean Coffee, YourStyle Kitchens Ltd., and Newbornlander Baby Store Inc.

The federal government says the investments are intended to help businesses remain competitive, improve productivity, and take advantage of opportunities in emerging and evolving markets.

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