Province Invests In Local Renewable Energy Company

A renewable energy manufacturing company in Dartmouth is improving productivity and global competitiveness with assistance from the provincial Productivity Investment Program (PIP).

Seaforth Energy Inc.'s investments in equipment and training will create additional international exports for the company, and will result in the creation of more good jobs in the province.

"We continue to make strategic investments that will help Nova Scotian businesses succeed," said Percy Paris, Minister of Economic and Rural Development and Tourism. "This investment will help Seaforth Energy train its employees to learn the right skills for its industry, and help them become more innovative and competitive globally. That's what our jobsHere plan is all about."

Seaforth Energy Inc. received approval for $25,500 incentive funding towards equipment purchases under the Capital Investment Incentive stream of PIP, and $62,500 for employee training under the Workplace Innovation and Productivity Skills Incentive stream.

"Because of the PIP program, we have been able to invest in the equipment and training needed to propel our business forward," said Jonathan Barry, president, Seaforth Energy Inc. "Our goal is to become more productive and more competitive in the global market, and this funding is helping us achieve that."

The company will purchase equipment to help produce its AOC 15/50 wind turbine, and is expected to result in a 50 per cent increase in labour productivity, sales revenue, competitiveness, and a better cost structure. The boost in business operations will also result in the hiring of six additional blade developers.

The funding will also allow training for Seaforth Energy's blade manufacturing technicians, which will help increase production capacity and productivity for its wind turbine manufacturing.

Seaforth's growth has also been supported with a $200,000 loan guarantee from the Industrial Expansion Fund in September 2010, allowing the company to borrow at a preferred rate of interest.

The PIP program provides financial incentives to encourage businesses to become more productive, innovative and globally competitive by supporting capital investments as well as workplace training and certification.

For more information on jobsHere and the PIP program, visit http://gov.ns.ca/jobsHere .