More federal money to Newfoundland and Labrador

Tor-Eddie Fossbakk  This funding will be used to invest in communities and workers suffering economic hardships, including aquaculture and research and development. The provincial government has identified several initiatives that will help affected rural communities and the workers who live there, particularly in regions such as the Great Northern Peninsula, the West Coast and Central Newfoundland, where the forestry sector has traditionally been a cornerstone of the economy. Some of these initiatives include: · infrastructure development in support of opportunities in natural resources and other sectors; and · diversification, research and development in such sectors as the fishery, forestry, tourism, and aquaculture. "The $23.4 million from the Community Development Trust will help supplement the work this government has done to support rural Newfoundland and Labrador and keep the Province moving forward," said the provincial finance minister, Tom Marshall, in a press release. With millions of dollars already committed by the Provincial Government to silviculture, forestry inventory and transportation, Fishing Industry Renewal, and aid for displaced workers due to the mill closure in Stephenville, the new allocation of funds will further help rural communities adjust to the impact of global economic volatility." In January this year the Government of Canada announced the CAD 1 billion Community Development Trust. A base amount of CAD 10 million will be allocated to each participating province and CAD 3 million to each participating territory. The balance of the funding will be allocated on a per capita basis. The Government of Newfoundland and Labrador has agreed to respect Canada's obligations under the North American Free Trade Agreement, the Softwood Lumber Agreement, and the World Trade Organization in administering their portion of the Trust funding.