Northern Development Board Appoints New Chair and Approves $3 Million in New Investments

Northern Development Initiative Trust announced today the approval of eighteen community and industry investments totalling over $3.0 million in grant and loan funding toward new projects with a total value exceeding $9.4 million.

A significant number of investments have been committed to in communities and rural regions throughout central and northern British Columbia, including job creation incentives approved-in-principle to two companies that are committed to creating 77 new manufacturing positions. Pioneer Biomass located in Williams Lake will use the Capital Investment and Training Rebate to support the company’s expansion of wood fibre reclamation of mountain pine beetle logging waste to supply regional pellet producers. The other manufacturing company expansion will be announced in Northeast BC in December 2009.