Friday, October 10, 2014 – Charlottetown, PEI – Atlantic Canada Opportunities Agency
The Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), today announced support for a project to grow a key asset in PEI’s Financial Services sector. The Charlottetown Area Development Corporation (CADC) will expand its Euston Street Financial Services Centre, allowing its tenant to expand operations and hire new staff.
For the past 40 years, the CADC has contributed to the economic and social development of the provincial capital area. By collaborating with governments and the private sector, CADC continues to capitalize on new opportunities for growth. In recent years, the growing financial services sector in Prince Edward Island has shown a trend towards hiring younger employees, including many recent university and college graduates. Retaining skilled young people is an important part of efforts to stop the out-migration of youth from the Island, and these well-paying jobs are helping to strengthen the local economy.
Quick Facts:
- The Government of Canada is supporting this project with a $500,000 contribution through ACOA’s Business Development Program.
- Created in 1974, the Charlottetown Area Development Corporation came about from the desire of the City of Charlottetown and surrounding municipal communities to plan systematically for development.
- The CADC works to attract private sector development and investment opportunities to grow and expand commercial development in the Greater Charlottetown area. It is owned by the Province of PEI, the City of Charlottetown and the Town of Stratford, and is governed by a community-based board of directors.
Quotes:
“Our Government knows that Canadians want good-paying, stable jobs, and by helping communities develop the right infrastructure to support business growth we are helping to create those jobs. I am pleased to announce this investment for the Charlottetown Area Development Corporation’s financial services facility expansion.”
- The Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency).
“We are pleased to play an important role in growing and expanding commercial development in the Greater Charlottetown Area.”
- Ron Waite, General Manager, Charlottetown Area Development Corporation
Associated Links:
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Jana Parker
Atlantic Canada Opportunities Agency
902-368-0264
Ron Waite
General Manger
Charlottetown Area Development Corporation
902-892-5341
