Business expansion will increase tourism opportunities
May 22, 2015 – Fredericton – Atlantic Canada Opportunities Agency
Kingswood Ventures Inc. unveiled plans today to improve its facilities, including the addition of a waterpark to enhance its capacity as a tourism destination, thanks to an investment by the federal government.
The Honourable Keith Ashfield, Member of Parliament for Fredericton, on behalf of the Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency), joined Kingswood Ventures Inc. officials to announce government support today.
In addition to the waterpark, the project involves facility improvements including new equipment, installations, building modifications and additional parking.
The Government of Canada, through ACOA’s Business Development Program, is providing a repayable contribution of $500,000 toward this project, while Kingswood Ventures Inc. is contributing $1,530,000.
Quick Facts:
- Kingswood Ventures Inc., is a Fredericton-based company that specializes in entertainment, fitness, golf, gymnastics, food service and commercial property rental.
- On an annual basis, the Kingswood Entertainment Centre anticipates that visitor numbers will increase from 230,000 to over 300,000 following the expansion.
- Tourism is an important sector in the Fredericton area. In 2014, the capital region saw an estimated 1,357,000 visitors with an economic impact of over $232 million.
Quotes:
“Our Government recognizes that a sustainable tourism industry is vital to building strong, healthy communities. Our investment in Kingswood Ventures will enhance the value of important community infrastructure, complementing other tourism offerings in the Fredericton area and keeping visitors here longer. This will contribute to further economic growth in this region.”
- The Honourable Keith Ashfield, Member of Parliament for Fredericton, on behalf of the Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency)
“I am pleased that the federal government sees the value of supporting a local business involved in tourism with a proven track record in job creation and sustaining those jobs. Kingswood takes pride in what we are able to give back to the community.”
- Brian Johnson, President, Kingswood Ventures Inc.
Associated Links:
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Ann Kenney
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-452-3687
Brian Johnson
President
Kingswood Ventures Inc.
506-450-1234
