A local information technology company is getting a $1-million boost from the provincial government.
Compusult Limited is receiving the cash from the aerospace and defence development fund. The 25-year-old company will use the money to expand into new areas of expertise.
"The funding from the province that we're now receiving will help jump-start that new development activity," Compusult president Barry O'Rourke told reporters Friday.
The company is building on its flagship product, Web Enterprise Suite.
It is working to create an enhanced web-based system that allows defence agencies, and other users, to bring together data from many places and funnel it into one comprehensive picture.
"We provide the ability to take that information from different sources, organize it intelligently, draw out the information that people need to make intelligent decisions, and to respond to those situations," company vice-president Paul Mitten said.
Compusult counts among its clients the United States Department of Defense, United States Geological Survey and Australian Department of Defence.
The $1 million comes in the form of a non-repayable contribution from the Department of Business. It is the first cash dispersed from the aerospace and defence fund.
"Compusult has clearly demonstrated that they've been successful in the international marketplace, and I think this investment now helps pivot them into the next level," Business Minister Ross Wiseman said.
Wiseman said the industry hopes to triple the amount of activity in the province over the next five years.
"This fund was established to grow capacity in the aerospace and defence industry," Wiseman said. "It's a relatively new industry in the province."
Compusult employs more than 51 people at its head office in Mount Pearl and has another 24 working in Halifax, Ottawa and Washington.
O'Rourke said the company hopes to soon hire up to 20 more employees.
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