*PRESS RELEASE FROM THE ATLANTIC CANADA OPPORTUNITIES AGENCY (ACOA)*

Supporting Economic Development in the Placentia Bay Region

November 16, 2018 – Placentia, NL – Atlantic Canada Opportunities Agency (ACOA)

Encouraging smart initiatives that promote economic growth in rural areas creates new opportunities for local businesses, good paying jobs for the middle-class and strong, vibrant communities. With support from the governments of Canada and Newfoundland and Labrador, the Town of Placentia and Port of Argentia are
undertaking new signage strategies that will help grow the area’s tourism, heavy industrial and marine services sectors.

Ken McDonald, Member of Parliament for Avalon, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Sherry Gambin-Walsh, Newfoundland and Labrador Minister of Service NL and MHA for Placentia-St. Mary’s, on behalf of the Honourable Christopher Mitchelmore, Newfoundland and Labrador Minister of Tourism, Culture, Industry and Innovation (TCII), made the announcement today.

The Town of Placentia is implementing Phase I of its Wayfinding Signage Strategy to increase the number of visitors to Placentia and encourage them to stay longer. The project includes the development and installation of several signs around the community to help promote the area’s tourism assets and enhance the tourist
experience. The Government of Canada, through ACOA’s Innovative Communities Fund, is providing a nonrepayable contribution of $122,385 towards the project, while TCII is contributing $41,203 from the Regional Development Program.

The Port of Argentia is developing a new signage program that will include a variety of directional and information signs installed in high-visibility areas around the port’s industrial sites. This initiative will enhance productivity, make the facilities more user friendly and support the port’s ongoing marketing activities and business development efforts. The port is receiving $98,000 from ACOA’s Business Development Program for the project. TCII previously announced a contribution of $49,000 towards this initiative.

These investments build on commitments made by the Government of Canada and the four Atlantic provinces to drive economic growth in the region through the Atlantic Growth Strategy, which involves targeted actions to create opportunities for all Atlantic Canadians. This includes supporting economic development in rural
communities through investments in growth, expansion and diversification.