12 December 2009

Prov Gov quietly buys into optical manufacturing

In 2008, the provincial government quietly invested $277,000 in First Choice Vision Centre according to the audited financial statements of government released recently by the provincial finance department.

There’s no news release or ministerial statement on the cash from either the business or innovation departments in 2008.

First Choice operates retail eyeglass stores across Newfoundland and also has a lens manufacturing facility.

The government received shares in exchange for the cash but there is no information on government’s website that gives any indication what the cash for for.

Unlike previous years, the 2008 audited financial statements contain no explanatory notes on investments.