Revitalization for Urban Community to Create Significant Economic Impacts

The revitalization of the Northside area of Cape Breton Regional Municipality got a major boost from the provincial government today, May 2.

Justice Minister Cecil Clarke announced a $1.5-million investment in up to 32 community-led projects that helped to leverage other government funding in the North Sydney area.

"As the government focuses on building for growth, stimulating the economy and creating sustainable, vibrant communities, investing in infrastructure and community revitalization is vital, especially during tough economic times," said Mr. Clarke. "In order to become more sustainable, these community organizations and their properties require enhancements that will contribute to economic growth for the region."

The investment complements the province's $1.9-billion commitment through its Building for Growth plan for Nova Scotia.

"Investing in rural and urban areas will not only create a more sustainable and prosperous Nova Scotia, but will help to create new jobs and other opportunities," said Murray Scott, Minister of Economic and Rural Development. "We must continue to make sustainable investments to help curb out-migration, retain our youth and graduates and allow people to stay and work in their communities."

The urban area of the province has experienced significant job losses as a result of challenging economic times. The regional development authorities across the province collaborate with government, the community, and the private sector to identify and facilitate opportunities to help lessen the impact through revitalization and other programs.

"Today's announcement strongly signals the support of the province and municipal government to community economic development," said Cape Breton County Economic Development Authority CEO Eileen Lannon Oldford. "This builds on our region's assets, strengths, and sustainability, while creating an economic stimulus for the region's contractors, tradesmen, laborers and service sector."

The Cape Breton County Economic Development Authority will begin project evaluation and implementation by mid-summer.

During the 2008-09 fiscal year, $194,910 Strategic Funding Initiatives investments leveraged $495,445 in funding for the Cape Breton region.

Investments through Economic and Rural Development's Strategic Funding Initiatives help to ensure economic growth and sustainable communities for Nova Scotia, building on their assets and strengths. Funding is provided on a one-time basis used for non-recurring capital costs and investments for not for profit organizations across the province.