POOLES CORNER — Two businesses with manufacturing facilities in Pooles Corner are getting funding to expand and relocate.
Atlantic Advanced Power Technologies and Eastern Fabricators received a commitment for over $2 million from the federal and provincial governments to help them relocate to a new facility and purchase new equipment.
AAPT has received $515,000 from both levels of government to establish a manufacturing facility for commercial marine technology and other marine equipment. This facility will support the company in offering machining and metal fabrication services throughout Atlantic Canada. This facility will establish a service on Prince Edward Island which was not previously available.
Eastern Fabricators has received $220,000 from ACOA to establish a manufacturing facility at this facility. The company has full-service capabilities in food processing fabrication, process layout design, custom design fabrication for the oil and gas industry, piping fabrication and custom machining work.
National Revenue and ACOA Minister Gail Shea and Allen Roach, P.E.I. Minister of Innovation and Advanced Learning, made the funding announcement Friday.
Part of the investment is coming from the federal government's $35 billion shipbuilding strategy, Shea said.
“Our Government is pleased to support companies who are helping to create jobs and growth in our region’s economy,” she said. “It is a great example of the ability of Island entrepreneurs to become suppliers and sub-contractors for major marine and defence procurements, both here and abroad.”
The Government of Canada has invested $360,000 to AAPT and $220,000 to Eastern Fabricators through ACOA’s Business Development Program to help purchase new equipment in their new facility. The Government of Prince Edward Island has invested $1.5 million to AAPT and $47,616 to Eastern Fabricators to support the companies’ relocation to the Pooles Corner facility.
“The Government of P.E.I.’s investment into assisting the relocation of these companies has accelerated job growth in rural Prince Edward Island,” said Roach. “The excellent infrastructure combined with access to state-of-the art equipment makes the Pooles Corner facility an excellent manufacturing location for these companies.”
“We are proud to open AAPT in an area we have long-standing ties with," said Jason Aspin, CEO, Aspin & Kemp. "We have identified solid business opportunities and as they develop, we will offer stable, rewarding employment to a growing number of workers.
“We intend to support other local businesses by sourcing our supplies in the community and want to be a major part of renewing the economy of eastern P.E.I.”