Province Invests in Long-Standing, Modern Family Business

The province is supporting good jobs and the rural economy by investing in one of Nova Scotia's oldest, and most modern family businesses.

Economic and Rural Development and Tourism Minister Percy Paris announced that Harry Freeman and Sons Ltd. will receive a $10 million repayable, interest-bearing loan, today, April 13, through the generally available Industrial Expansion Fund.

"Through this investment, we are supporting 125 quality jobs in rural Queens County, and the local suppliers that do business with this long-standing company," said Mr. Paris.

Over the past six years, the company has spent $18 million to modernize its facility. This fully-secured investment will ensure Freeman Lumber's previous investments continue to result in improved efficiencies.

"Freeman Lumber is one of the most efficient and flexible sawmills in Atlantic Canada," said co-owner Richard Freeman. "This investment will help us reduce our costs, and become even more competitive in the global marketplace."

Established in 1832, Freeman Lumber operates a sawmill, dry kiln, and planing and moulding facility in Greenfield, Queens Co. The company has a payroll in excess of $4 million per year and purchases more than $16 million in goods and services each year from local suppliers.

The Industrial Expansion Fund, which is generally available to all industries, is one method the province uses to support economic development in all regions of Nova Scotia. It helps industries involved in innovative research and technology and contributes to a prosperous, sustainable business climate for Nova Scotia.