PRESS RELEASE 

The Cape Breton County Economic Development Authority (CBCEDA) supports CBRM’s Capital Plan.   

The Board and Management of the Cape Breton County Economic Development Authority are pleased to offer their support of the Capital Plan of Mayor Cecil Clarke and CBRM Council.

‘Mayor Clarke and Council have developed a long range, practical, and workable plan for CBRM at this critical point in our economic survival,’ said Rev. Tom Whent, Board Chair.  ‘Although the challenges are daunting, we are fortunate that our elected representatives have taken such a proactive approach.’ 

Working with the staff of CBRM, the Mayor and Council prepared a $300 million capital plan and pledged to provide $75 million from the municipality.  A matching amount has been requested from the province and when that is received, it will be used to leverage the remaining $150 million from the federal government.

Rev. Whent is confident that the province will come forward to match the CBRM pledge as the Premier recognizes that the infrastructure needs of the second largest municipality of the province cannot be addressed without the provincial commitment.  ‘With this commitment from the province, CBRM can then deal with the federal government, citing the fact that CBRM is the only urban area in Atlantic Canada with double-digit unemployment,’ said Rev. Whent.

Eileen Lannon Oldford, CEO of CBCEDA added, ‘We now have a long range plan to address the economic decline we have suffered for years. The three levels of government have the opportunity to work together to build a sustainable municipality. The time and effort previously spent in dealing with critical issues as they arose can be better spent developing, promoting and managing growth in CBRM.  Going forward, with funds in place to cover the most pressing issues, the municipality can turn its thoughts to building an economy that will attract entrepreneurs and businesses to the area. Whether it is the growth of existing companies or the attraction of new enterprise, it will mean more jobs, a larger tax base and  thriving  communities within CBRM,’ said Lannon Oldford.

CBCEDA believes that the population of CBRM, including those residents currently working elsewhere because of the lack of good paying jobs locally, are ready to work together to bring the area into a new economic reality.  ‘CBRM is home and we continue to strive to make this an area that will live up to its full potential,’ said Rev. Whent.  ‘With the support and cooperation of the governments of Nova Scotia and Canada for this plan, we will write the next chapter for the development and growth of the CBRM and succeed together.’

Contact:

Eileen Lannon Oldford, CEO

Cape Breton County Economic Development Authority

902.562.2201