Federal Government Invests $3.56 Million in Nine St. John’s-Area Businesses

The federal government announced more than $3.5 million in funding for nine businesses in the St. John’s metro region to help them modernize operations, strengthen supply chains, and expand into new markets.

The investments, totalling $3,565,000, were announced July 16 by Tom Osborne on behalf of the Atlantic Canada Opportunities Agency.

The funding is being provided through the Regional Tariff Response Initiative (RTRI), a federal program aimed at helping businesses improve productivity, increase resilience, and adapt to changing international trade conditions.

According to ACOA, the projects will support companies across the St. John’s metro area as they adopt new technologies, improve efficiency, diversify revenue streams, and reach new customers. The agency said the investments are intended to strengthen industrial capacity while supporting business growth and employment in the region.

The nine businesses receiving funding are:

• Browning Harvey Ltd.

• Newdock (St. John's Dockyard Ltd.)

• Virtual Marine Technology Inc.

• Solace Power Inc.

• Compusult Ltd.

• GRi Simulations Inc.

• Jumping Bean Coffee

• YourStyle Kitchens Ltd.

• Newbornlander Baby Store Inc.
  

The federal government said the funding will help businesses strengthen productivity and competitiveness while positioning them to pursue opportunities in new and evolving markets.