21 March 2010

The Money Program

Within the past 12 months, federal and provincial government sources have poured $2.0 million into a building expansion at Dynamic Air Shelters and to unspecified research projects the company is running.

The most recent injection – this time from the provincial government – came last week.

That brings the total amount of public cash in this private company to slightly less than $ 3.5 million in the four years since the company relocated from Calgary to Grand Bank. That doesn’t count what the company received as a result of EDGE status.

 

Date

Description

Amount (Cdn$)

Type

19 Mar 10

12,000 square foot building expansion plus new equipment

725,000

INTRD - unspecified

17 Jun 09

Research

50,000

NRCC - contribution

17 Jun 09

Research

30,000

NRCC - contribution

12 Jun 09

Research

30,000

NRCC - contribution

19 May 09

Research

465,000

NRCC - contribution

16 Apr 09

Building expansion plus new equipment

500,000

ACOA – interest free loan, Business Development Program

   

200,000

Grand Bank Development Corporation loan

06 Nov 08

6,000 square foot expansion plus 30 + jobs

500,000

Business

Oil and Gas Manufacturing Services Export Fund

27 Jun 08

Salary subsidy – hire and train 18 employees

180,000

INTRD - unspecified

01 May 07

Loan – unspecified purpose

250,000

INTRD – SME Fund

20 Dec 06

Prod. “efficiencies” and employee trg

20,000

INTRD

26 Jun 06

Construct oil industry shelters

499,926

ACOA – “provisionally repayable contr”

12 Jun 06

Hire marketing manager

50,000

ACOA - contribution

SUB-TOTAL

Provincial

Federal

1,675,000

1,824,926

 

TOTAL

$ 3,499,926

 

-srbp-