Province Invests in Family-run Business That Employs 100

One of Nova Scotia's oldest family-run businesses, which employs 100 people in Queens County, will receive a short-term loan at a challenging time in the forestry industry.

Natural Resources Minister Carolyn Bolivar-Getson, on behalf of Economic and Rural Development Minister Murray Scott, announced a $750,000 interest-bearing loan today, Jan. 23, the through the Industrial Expansion Fund to assist Harry Freeman and Son Limited until it finalizes long-term financing.

"The province is committed to helping this important rural employer that has an payroll of $4 million," said Ms. Bolivar-Getson. "This assistance will help to sustain a vibrant rural community and protect the technological innovation that the company has invested in over the past five years."

The company produces about 60 million board feet of lumber and value-added products each year. As one of the most sophisticated facilities of its kind in Nova Scotia, the company has invested $18 million to modernize its operations and ensure it continues to be a low-cost producer.

"We take great pride in producing top-quality products as a result of the investment we have made towards improving efficiencies and productivity at our facility," said Charles Freeman, president of Harry Freeman and Son Limited. "With this investment, we will continue to add value to the industry, while supporting our community."

The Industrial Expansion Fund is one method the government of Nova Scotia uses to support economic development in the province. It is key to helping industries involved in innovative research and technology while contributing to a prosperous and sustainable business climate for Nova Scotia.