“This is a great investment for our town and the region,” says Mayor Basil Daley in a press release.
Through a funding partnership of approximately $1 million between the Town of Arnold’s Cove, the provincial Department of Business, Tourism, Cultural & Rural Development (BTCRD) and the federal Atlantic Canada Opportunities Agency (ACOA), a new serviced business park will provide the basis of developing an oil and gas industry cluster in the community to benefit the region.
“We are looking to do our part to help grow the service and supply side of the oil and gas industry in the region,” says Deputy Mayor Aiden Wadman. “Arnold’s Cove is in a unique position with a world class fabrication yard in Bull Arm, a trans-shipment facility at Whiffen Head and the North Atlantic Refining Limited oil refinery all within five km of each other.”
As these three facilities are competing on a global scale, the need for productivity is very important. As a result the town’s long-term objectives are to foster an environment that will expand the number of businesses in the community, increase the labour pool by creating jobs and develop a more productive and competitive oil & gas industry.
“We want to see more people working in the oil and gas industry from our region,” says Mayor Daley. “With more supply and service companies set up close to these sites, that means more entry level jobs for our residents.”
The volatility of rising and falling oil prices has been factored into the decision to proceed with the project.
“Higher oil prices means more exploration, which means the potential of more work at Bull Arm,” says Mayor Daley. “But lower oil prices means a busy refinery, and during the past twelve months, the NARL refinery has been busier than ever. Regardless of if the price is up or down, there will always be a need to supply and service this area.”
Nine serviced lots will be created on Whiffen Head Road and a new cul-de-sac to provide water and sewer services designed for commercial use, curb, gutter and storm sewers for drainage, a 10-metre asphalt surface for large vehicles like delivery trucks and tractor trailers, and a temporary turnaround to easily allow for future expansion.
Work on the new serviced business park is expected to start this fall.