The provincial government is contributing nearly $600,000 towards the development of the Marystown marine industrial park.
Innovation, Trade and Rural Development Minister Shawn Skinner announced the funding Thursday at the Marystown Municipal Centre, saying it will come from his department's Regional/Sectoral Diversification Fund (RSDF) and will help solidify Marystown's position as a shipbuilding hub.
"For that matter, I view this development as having a positive impact on the entire provincial economy," he said.
The project, which is led by the Town of Marystown's Port Authority Committee, will include site preparation for a 20-lot marine industrial park, with six fully serviced lots completed in coming months.
It will also include the installation of hydro, water and sewer services, complete with sewage treatment and outfall for the industrial park, and base course asphalt to the first six lots with sub-grade road construction to the marginal wharf site.
Mayor Sam Synard said developing Mortier Bay into a world-class harbour represents the town's best opportunity for major employment in the region, and he sees the marine industrial park as an important factor.
The mayor said the town is already starting to promote the availability of the lots and has attracted interest from an Alberta company, which is considering relocating to the area to set up a manufacturing plant.
"I hope we can continue conversations with partners to do the next phase and the next phase," he said.
Burin-Placentia West MHA Clyde Jackman, who's also the tourism minister, said he believes people will be impressed with the final product.
"The infrastructure that we're building, and will continue to build, out from Power's Cove and in Mortier Bay, can only add to the (draw of) this particular area," he said.
The provincial funding follows $708,841 in Atlantic Canada Opportunities Agency funding announced earlier this month by ACOA Minister Keith Ashfield. An initial $1.15-million ACOA investment was rolled out in the spring.
Skinner, meanwhile, participated in the first annual MHA Cup Golf Tournament at the Grande Meadows Golf Course in Frenchman's Cove during his visit to the area.