MINISTER OF ENERGY AND MINES BILL BENNETT ANNOUNCES DETAILS OF MULTI-MILLION DOLLAR DEVELOPMENT IN SPARWOOD
Sparwood, British Columbia
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September 11, 2013 (Investorideas.com Mining stocks newswire) Minister of Energy and Mines, Bill Bennett has announced details of the first step in an ambitious development and revitalization plan in Sparwood by releasing the particulars of a multi-faceted investment program.
The first stage of the development plan includes multi-million dollar investments from, Joy Global, Schickedanz West, Teck, BC Hydro and Noort Investments.
The new construction projects are coupled with developments to the District's infrastructure including highways and pedestrian walkways. This round of development follows the completion and opening of the East Kootenay Community Credit Union's Sparwood site which opened for business in 2012.
Minister Bennett said: "It is an honour for me to participate in today's celebration of Sparwood and Sparwood's future. I know Mayor and Council have worked hard on this development and it is very exciting to see it all come together for them and the whole community. I am proud to represent such a forward looking community with such strong leadership. And as well, I welcome the new voters who will come with this significant investment."
Kootenay Columbia MP, David Wilks said: "These investments which are being announced show that Sparwood is moving forward and has the confidence of the business community. I congratulate Mayor, council and Staff on their vision for the future and believe this is only the beginning"
Lois Halko, Mayor of Sparwood said: "Today we have taken an exciting step towards building an amazing future for Sparwood. We are delighted to be able to announce these hugely significant investments from these very important organizations within our community. They all provide employment security to our residents and have signaled their continued commitment with these investments. We are fully supportive of these developments and as such have committed to building new infrastructure to facilitate the various projects."
Joy Global is a worldwide leader in high-productivity mining solutions and is a key supplier to Teck both locally and further afield and are investing $35m in a flagship corporate facility. Speaking of the investment, Steve Droste, Regional Manager, Western Operations at Joy Global said: "Sparwood has a long history in the mining industry, and Joy Global has been part of that history since 1987. First as Harnischfeger, then as P & H MinePro Services, and now as Joy Global. This new facility is the next step in our commitment to our customers, to our employees and to the future of mining in the Elk Valley. The facility will provide our employees with the best environment, tools and equipment which will enable us to provide the highest level of service to our customers. We are excited to be part of this major investment initiative in Sparwood and look forward to the growth and prosperity it will bring to the region."
Regional developer Schickedanz West is investing $14m in the construction of a hotel, retail and restaurant development which will occupy a prime highway position. They are currently seeking a compatible restaurant to complete the site.
As part of its Beautification Program for municipalities, BC Hydro will contribute approximately $290,000 towards the cost to relocate the existing overhead power line infrastructure to underground in the vicinity of the planned development in Sparwood. The relocation work will also provide additional line capacity to support development in the area. "BC Hydro is pleased to provide support to the District of Sparwood for this significant development," said Jon Eadie, BC Hydro Transmission & Distribution Design Technical Leader. "Not only will the improvement work visually enhance the Highway 3 corridor through Sparwood, it will support continued growth in the area."
Noort Investments, owners of the Greenwood Mall has committed $500,000 to the redesign and development of the mall including new frontages, parking area development and internal improvements. This redevelopment will be the first to commence and will have a huge impact on the visual aesthetics to passing traffic and other regional visitors.
Teck, the owner of five steelmaking coal mines in the area and the region's largest employer, has acquired 8 acres of land off Highway 3 for future development, "Our people are proud to be a part of this community and we support the District's efforts to further develop investment and infrastructure for the benefit of local residents," said Ian Kilgour, Executive Vice President and Chief Operating Officer, Teck. "This region and its people are vital to the growth of our business."
JUDE SMITH Business Development Liaison District of Sparwood firstname.lastname@example.org Phone: 250.425.6271
Sparwood is enviably located in the Rocky Mountains alongside the Elk River with a population of 4,200 and is a clean, safe, family-friendly community with excellent elementary education ranked in the top 2% provincially.
Business opportunities in Sparwood are abundant supported by positive conditions including an annual income for males 42% higher than the provincial average, ambitious development plans driven by a flexible municipal structure, forward thinking planning department, low taxes, and tax exemption options covering the downtown.
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