HotSpot Parking nets $90K to expand, hire 6 new staff
Premier Brian Gallant announced funding for the Fredericton-based company on Tuesday
Fredericton-based HotSpot Parking Inc., which allows people to pay for their parking with their mobile devices, received $90,000 in funding from the provincial government on Tuesday to hire six people and expand into international markets.
Premier Brian Gallant said the funding is coming from the Department of Economic Development’s NB Growth program.
"Job creation is our government’s major priority," Gallant said in a statement.
"Leveraging innovation to create jobs and improve government revenues is critical to our future. Growing our economy right here in Fredericton with our investment in HotSpot Parking Inc. is a smart investment."
Gallant said HotSpot Parking will have to create the six jobs and keep those people employed for a year before the company actually receives the money.
The premier also said while the previous Progressive Conservative government worked on the grant, helping this company fits with his priorities.
"We're here giving them a bit of support. Obviously they've done the work and they're the ones accomplishing all the great things," Gallant told reporters.
"Us, as a government, can support them, and we believe giving them that extra push will help them not only expand their markets continuously but help them continue the great work they're doing in the province."
Phillip Curley, the chief executive officer of HotSpot Parking, said the provincial funding will result in six new jobs and allow the company to prepare itself to expansion into new markets.
HotSpot is currently operating in Fredericton, Saint John and Charlottetown, and the company plans to expand to Moncton and Halifax.
"Here at HotSpot we truly believe the innovation sector has the opportunity to move our province forward in the right direction," Curley said in a statement.
"With the investment from the provincial government, our company will be able to grow rapidly, expand to global markets and help boost our local economy."
Gallant and his cabinet ministers have insisted the top priority for the Liberal government is job creation.
The first major announcement of the new government was the reduction of the small business corporate tax rate to four per cent from 4.5 per cent, starting on Jan. 1.
Last Friday, Statistics Canada reported that New Brunswick’s jobless rate jumped to 9.6 per cent in September, from 8.7 per cent in August.
Finance Minister Roger Melanson said on Friday the job numbers reinforce the government’s focus on job creation.
"We have significant challenges and that is why we have made this our number 1 priority, not only in the campaign, but now as a government," Melanson said.