PAGE 6-8, THE HERALD, sth ANNIVERSARY, EDITION, Friday, July 29, 1977

_.§70:MILLION AGREEMENT .

-DREE funds slated for our area

Terrace i isinthe area that g into | community development A) incentives
will receive $70 million

go

industrial development.
dollars towards economic The money wil] go to Oil be available. for’ the
development over the next providing, sites, industrial ot aplishment, expansion
five’ years from the Paris, and modernization of

t :
provincial and federal amagional vindusirial manufacturing and

governments, Each develo t commissions processing . facilities, and
jovernment is also expected Cove °pmien illion dollars foan uarantees will be
fo spend a further $29 will get two milll available. for certain:

mill on: under existing
industrial
pe rograms, bringing a grand

of $110 million dollars:
in aid to northern B.C. The:
. sum of $3.86 million will be

development |

- worth of assistance for. the

hiring of staff to prepare

and: administer economic

development. plans . for

regional districts or other
selected areas.

sesmall businesses will -

of commercial operaiticns.

Also the British Columbia
Development, Corporation is
expected to spend a

* further$20 million on

favourable . interest loans

spent on ‘consultant studies e $5 million to and reasonably priced
- Opportunities, including riodernization , expansion enteyprises.. -- -

chnical, marketing and oy establishment, The designated - area. “of ;
feasibilit studies, and the In addition the federal BritishColumbia . “will

reports: determining the economic expansion Of Bulkley Nechako,

-(DREE) is expected to Cariboo, Central . Coast,
community ve spend about $20 million Fraser. Fort Geerge,
A-total of $59 million will “UNder the: regional

Skeena
and Terrace’s own
Kitimat Stikine. =.
Commenting on _ the
DREE program, Skeema
M.P. [ona Campagnolo
said,“‘most manufacturing
and processing ‘industries
are eligible for development
incentives and loan
guarantees. ‘The major
exceptions to this type of
processing operationg are
petroleum refining,  -

construction, repairing
operations and the
rendering gE roducts such. as
sawmills, fish plants or food
processing plants are

m eligible.
; . DREE

Congratulations! ! i="

program, _ projects having at
ast $25,000 — capital
investment in buildings

machinery and equipment

> may be considered eligible.
product expansion creates
at least five direct jobs, the
capital costs can be as. little

” tacilities and .
expansions to produce new
@ products, can be eligible for
grants of up to 25 percent of

@ approved capital costs. .
For modernizations . and
expansions to increase
production of — existin
m product lines, the level’ of.
meassistance can a

B capital costs of ine ary rv
1 costs of the plant and

commercial.
facilities, although not
eligible for develo iment |
ncen Ly
oan Narantess wr rovided
mathe total capital cf
least $1000,000. at oes
commercial Facilities,
s ng centr
convention Fonires, ‘hotels; -

+

maresearch facilities...” .
Industrial © develo

being develo ed jointly.
funder the auspices in ‘the:

-$General Development
Agreement of 1974.

great importance to all of us
in northern B. Cc”, said:
Campagnolo,

an - ' s ‘ ; ee

The Gity Of Prince Rupert -
. programs would ‘give many
northern communities. the,

. their.

preparation of special ‘department of regional Include the regical districts -

George,
Queen Charlotte

a newsprint production,

But if a new facility oF new _

on ‘ ; mactivities encourage 5
, . assisted under the Regi a
Development Incentives ‘Act '~
are expected to complement ™
: mathe industrial development
| ; ; Strategy for the province,

mCanada Brithish Columbia |

“This announcement 18. of

She predicted tliat these

ehance of stabllizing ‘and’.

motels and recreational and cet