January 31, 2005 Saint John, New Brunswick The Atlantic Canada Opportunities Agency (ACOA) announced today that six companies in the Saint John area have received support under the Agency's Innovation Skills Development Initiative (ISDI). This unique program is designed to improve the innovation management and technical competencies of small- and medium-sized companies. Base Engineering, Bourque Industrial, Crosby Molasses, Saeplast Canada, IBL-Internet Business Logic Inc., and Uponor Canada recently received funding to hire the expertise they need in order to improve their productivity and competitiveness. "The Government of Canada is proud to support innovative companies like these, which are diversifying the economy in Saint John and creating opportunities for technical experts and new graduates," said Paul Zed, MP for Saint John, on behalf of the Honourable Joseph McGuire, Minister of ACOA. "These are companies who recognize that by strengthening their technical and innovation skills, they can also broaden their business opportunities and become more competitive in the global marketplace." Under the ISDI, companies can receive support for the training and skills development of existing staff, the recruitment of experienced experts and managers, and the recruitment of skilled graduates. Assistance is available to small- and medium-sized enterprises through the Initiative's three components: Innovation Management Skills, SME Technology Advancement, and Technical Graduate Leadership. Demonstrating the benefits of enhanced skills and the ongoing implementation of technology are the two key principles behind the Initiative. In total, ACOA invested $448,529 in the six companies under the ISDI. Company / Amount Base Engineering, $90,000 Bourque Industrial, $99,999, $25,000 Crosby Molasses, $25,000, $8,550; IBL - Internet Business Logic Inc., $90,000; Saeplast Canada, $25,000; Uponor Canada, $77,475. For more information on ACOA's programs, visit our web site at: www.acoa-apeca.gc.ca - 30 - Valérie Poulin Director of Communications Office of the Honourable Joseph McGuire Minister of ACOA (613) 941-7241 Sharon Stanford-Rutter Communications ACOA NB (506) 452-3698
