Federal, Provincial, and Municipal Governments Support Unique Business Matching Program for Immigrants
News Release
October 11, 2016 – Fredericton, N.B. - Atlantic Canada Opportunities Agency (ACOA)
Representatives from the Government of Canada, the Province of New Brunswick, and the City of Fredericton joined officials from the Fredericton Chamber of Commerce today to officially launch a unique pilot initiative aimed at matching immigrants with local businesses as part of a large-scale solution for business succession planning.
Matt DeCourcey, Member of Parliament for Fredericton, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency, joined the Honourable Stephen Horsman, Deputy Premier for New Brunswick and Minister responsible for Families and Children and Minister responsible for Military Affairs; as well as His Worship Mike O’Brien, Mayor, City of Fredericton, to make the announcement and mark the launch of this one-of-a kind project.
New immigrants looking to invest in a local business will be matched with New Brunswick entrepreneurs seeking to sell existing businesses. This pilot venture will be carried out within the Fredericton and surrounding area and will involve the development of a comprehensive profile of new immigrants, the identification of existing businesses that could be available for purchase, and the analysis of the data to identify possible matches. Overall, the project will support succession planning efforts of existing entrepreneurs while assisting new immigrants in identifying investment opportunities appropriate to their interests and skillsets.
The Government of Canada, through ACOA’s Business Development Program (BDP), is investing $259,224 in the project, while the Province of New Brunswick is providing $102,820, the City of Fredericton $78,007 as well as a number of corporate sponsors contributing $65,720.
Quotes
“The Government of Canada remains committed to working with all partners in government and business to create jobs, strengthen the middle class, and grow the Atlantic Canadian economy. Today’s announcement is part of the Atlantic Growth Strategy’s commitment to drive economic growth in the region through skilled workforce and immigration initiatives.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The Government of Canada believes that public investment is an important catalyst that spurs economic growth, job creation and broad-based prosperity. The Fredericton Chamber of Commerce’s Immigrant Matching Program or newly named “Succession Connect” is an important pilot project that will provide the critical structure needed to highlight new opportunities for both immigrants and our local businesses, creating good quality jobs for all our citizens, while growing and strengthening our local economy.”
- Matt DeCourcey, Member of Parliament for Fredericton
“Our government strives to help newcomers and immigrants feel welcome and supported. This program will help grow the economy while connecting newcomer entrepreneurs with meaningful opportunities so they can become long-term members of our workforce.”
- The Honourable Stephen Horsman, Deputy Premier and Minister responsible for Families and Children on behalf of Post-Secondary Education, Training and Labour Minister Donald Arseneault, whose responsibilities also include immigration
“Fredericton is on course to grow in the coming years and a lot of that growth will come from immigration. This innovative pilot program will help create the best conditions for immigrant investors to find business opportunities, giving them the best chance to succeed. We think it's a winning formula."
- Mayor Mike O’Brien, City of Fredericton
“The Fredericton Chamber of Commerce is thrilled to launch our Succession Connect program that addresses two clear needs that will immediately benefit our local economy - providing an avenue for business owners to sell their operation while dramatically increasing the chances of success for our entrepreneurial newcomers, which will help our community retain more of them for the long term. Newcomers bring needed skills, an entrepreneurial spirit and cultural diversity - all of which positively add to New Brunswick's economic and social future.”
- Krista Ross, CEO, Fredericton Chamber of Commerce
Associated Links
Contacts
Ann Kenney
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-452-3687
Tyler Campbell
Communications
Post-Secondary Education, Training and Labour
506-453-4090
Wayne Knorr
Communications Manager
City of Fredericton
506-460-2181
Krista Ross
CEO
Fredericton Chamber of Commerce
506-458-8006
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