Province announces financial assistance for Saint John
The provincial government has agreed to provide financial assistance of up to $22.8 million to Saint John.
The announcement was made on Friday by Premier Brian Gallant and Saint John Mayor Don Darling.
Gallant says New Brunswick's economy needs a strong Saint John, adding that the government will invest in economic growth to create more opportunities for the people who live there.
The province says the funding will be provided over three years if the deficit has not been eliminated.
Both parties have also agreed to immediately undertake a series of short and long-term measures to help grow the city's economy, including investing around $270 million in infrastructure projects, $50 million in major tourism assets, and $10 million in Living SJ and other partnerships.
They have also agreed to support private sector development opportunities and subsidize job placements with an estimated $273 million through the enhanced Youth Employment Fund.