(Fredericton, NB) – The Fredericton Chamber of Commerce congratulates Fredericton City Council on passing another balanced budget without increasing the city’s property tax rate for residents or businesses.

“Certainly, prudent financial management of public money is something we would like to see from all governments,” said Joseph O’Donnell, chamber president. “We were also pleased to hear Councillor Grandy say that its time to ‘turn the page from negative to positive’ and that there would be no more ‘the sky is falling’ talk in reference to upcoming budgets. Within the New Brunswick context, Fredericton is doing very well for itself ­ and City Council should take a lot of credit for that.”

Earlier this fall, the chamber sent two letters of support for funding requests received by City Council: one for an increased operating budget for Ignite Fredericton and one for a capital budget request from Fredericton Exhibition Ltd.

The chamber has been asking for increased funding for Ignite Fredericton since the federal and provincial governments pulled their funding in 2012.

“The mayor and council have consistently stated that they see the value and return on investment from Ignite Fredericton,” O’Donnell said. “We are very pleased to hear from Ignite CEO Larry Shaw that their request for increased funding has been granted. A big part of the City’s Vision 2020 plan is growing our knowledge sector, and that means competing globally. Giving Ignite more of the tools needed to accomplish the goals which with they have been tasked is a big step in the right direction.”

“The increased funding for Ignite is great news for the community as a whole,” added Larry Shaw, Ignite Fredericton CEO. “We appreciate the support from the City and from all of our stakeholders and partners. Now the work of deploying our plans as presented to council can begin in earnest.”

Fredericton Exhibition Ltd. presented their capital funding request to the chamber’s Municipal Government Affairs Committee in November.

“We felt that the Fredericton Exhibition Ltd. proposal had a lot of value to offer the city ­ both in terms of leveraging $1.5 million of provincial and federal funding and also as a competitive advantage for the city in creating a unique asset in the region that could assist the City’s sport and event tourism strategy,” added Krista Ross, chamber CEO. “We supported the project because the cost to the City ­ $50,000 per year for ten years ­ seemed like a reasonable investment for the benefit that would flow to the community.”

The chamber will also present a position brief to City Council in the spring.

Contact: Krista Ross, Chamber CEO (506) 458­8006

With more than 900 members, the Fredericton Chamber of Commerce is New Brunswick’s largest chamber of commerce. A dynamic business organization, the Fredericton Chamber of Commerce is actively engaged in policy development that affects the competitiveness of our members and of the Canadian business environment.

P.O. Box 275, 364 York Street, Suite 200, Fredericton, New Brunswick, Canada, E3B 4Y9
E­mail:  This email address is being protected from spambots. You need JavaScript enabled to view it.    Website:  www.frederictonchamber.ca
Tel: 506­ 458­8006  Fax: 506 451­1119