Groupe Savoie expands its Saint-Quentin, New Brunswick, operations and increasing its workforce with investments from the provincial and federal governments, as Government of New Brunswick reported.
The company, which is a leading producer of a wide range of top-quality hardwood products exported across North America, Europe and Asia, is branching out into block pallet production and hiring 40 new employees.
The opportunities of New Brunswick
Opportunities New Brunswick will contribute a payroll rebate of $500,000 and a $500,000 repayable loan. Once filled, the 40 positions will contribute an estimated $4.9 million annually to the province’s GDP.
The Regional Development Corporation is contributing up to $1.1 million that will be used for improvements at two facilities, as well as for equipment and pallet production. The company’s capital investments of nearly $10 million are expected to increase export sales as well as improve productivity and competitiveness.
The Atlantic Canada Opportunities Agency (ACOA) is providing a repayable contribution of $1 million through its Business Development Program.