Amherst Company to Expand Operations
More jobs are on the horizon for Nova Scotians thanks to the province's investment in one of Atlantic Canada's fastest growing, locally owned businesses.
Stenek Corporation, based in Amherst, is expanding its operations with a $500,000 investment incentive from the province's Office of Economic Development. The expansion will lead to 40 new jobs and increased sales and product distribution, Economic Development Minster Ernest Fage announced today, Nov. 28.
"We are always looking for ways to expand our economy, create new jobs and help local businesses," said Mr. Fage. "We are pleased to partner with a company that has a strong track record and a desire to grow their business right here in Nova Scotia."
"This loan is going to help us move forward with our business expansion," said Shannon Sears, president of Stenek Corporation. "Not only will we be hiring more staff and increasing our distribution sales, we'll be doing it in our hometown of Amherst. It's important that our success be shared by the people in the community who have supported us for the past 10 years."
Since opening in 1996, Stenek Corporation has grown into one of Atlantic Canada's leading distributors of consumer and office products with 32 employees. The corporation is the preferred supplier to more than 1,000 retail locations across Canada.
The Office of Economic Development worked closely with Stenek and Nova Scotia Business Inc. (NSBI) to put the deal together.
"Stenek is pursuing a growth strategy that we are pleased to play a part in," said Craig Stanfield, manager of investment projects at NSBI.
Following 10 years of consistent growth, Stenek has outgrown its location and will relocate to a new facility in Amherst's industrial park. Costs for the relocation and expansion will be about $2.1 million. The move will allow the Town of Amherst to find other uses for the old downtown site more consistent with the community's strategic plan.
The $500,000 investment loan may be forgiven after five years if capital investment and employment targets are reached.