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CBDC Chaleur Economic Diversification Initiative
Project: CBDC Chaleur Economic Diversification Initiative
Region: New Brunswick
- Helping supply chain companies to gain new skills and access new market opportunities
- Allowing SMEs to diversify into new product lines, services and revenue streams
- Sustaining and creating new jobs
- Project is entering year two of activities
Timeline: Expected completion date of August 31, 2023
The Atlantic Canada Opportunities Agency (ACOA) delivers the Canada Coal Transition Initiative (CCTI) in New Brunswick. The agency is providing $980,000 to the CBDC Chaleur.
The community of Belledune, New Brunswick, will be affected by the phase-out of coal fired electricity as Canada moves to a net-zero carbon emissions future. It is home to the coal-fired Belledune Generating Station and to the Port of Belledune, a key transportation asset that imports coal for the station and supports a wide range of industrial activities. The region was also impacted by the closure of the Glencore Smelter and the temporary closure of the Trevali Mine.
Through the Canadian Coal Transition Initiative, ACOA provided $980,000 to the CBDC Chaleur to support the development of a small- and medium-sized enterprise (SME) diversification initiative to assist the Glencore Smelter and Trevali supply chain companies in acquiring new skills, identifying new fabrication and manufacturing opportunities, tooling up and improving productivity.
This project will help companies to strategically plan for the development of new products and service offerings, as well as to diversify into new markets for the purpose of generating new revenues, and sustaining or creating new jobs. By diversifying the economy and creating new employment opportunities, this project will mitigate the impacts of a future coal phase-out on workers and communities in Belledune and the surrounding region.