Backgrounder: Investing in Tourism and Small Business Growth in Prince Edward Island
Charlottetown, Prince Edward Island – November 22, 2024
The Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is investing over $4 million in five projects to support tourism and small business growth in Prince Edward Island.
These projects aim to enhance visitor experiences, create jobs, and boost the local economy.
Tourism Infrastructure Investments:
- Confederation Landing Park: Gateway to Charlottetown ($2.1 million)
- Upgrades and enhancements to Confederation Landing Park, a popular tourist destination, to improve accessibility, enhance visitor amenities, and support local businesses.
- Tourism Infrastructure Improvement Fund ($1 million)
- Funding to support tourism infrastructure improvements across Prince Edward Island, including upgrades to attractions, trails, and facilities.
Small Business Support:
- Prince Edward Island Business Accelerator ($400,000)
- Expansion of the Prince Edward Island Business Accelerator to provide mentorship, training, and other support services to small and medium-sized businesses.
- Tourism Innovation Fund ($400,000)
- Funding to support tourism businesses in developing and implementing innovative products, services, and experiences.
- Small Business Start-Up and Growth Fund ($250,000)
- Funding to support new and existing small businesses in starting up, expanding, and creating jobs.
Quotes:
“These investments will help position Prince Edward Island as a leading tourism destination and support the growth of our small businesses,” said the Honourable Lawrence MacAulay, Minister responsible for ACOA. “Our government is committed to working with stakeholders to build a strong and prosperous economy for all Canadians.”
“We are pleased to support these important projects that will benefit the tourism industry and our small businesses,” said the Honourable Dennis King, Premier of Prince Edward Island. “These investments will help create jobs and boost the local economy.”
Additional Information:
- The investments were announced during a visit by The Honourable Lawrence MacAulay, Minister responsible for ACOA, to Charlottetown.
- The projects are funded through ACOA’s Business Development Program and Tourism Development Program.
- ACOA works to create opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative, and export-ready.
Backgrounder: Investing in Tourism and Small Business Growth in Prince Edward Island
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