AMHERST – The future continues to get brighter for one of Amherst’s most successful manufacturers.
Cumberland North MLA Brian Skabar announced Friday that the province, through Nova Scotia Business Inc., is providing a $1-million equity investment in Amherst’s LED Roadway Lighting. This is part of a $5-million round of investment for working capital to help the company meet demand, expand operations and create new jobs.
“The province, through NSBI, has been an extremely valuable and supportive organization, helping our company expand, attract new investment and do business abroad,” company vice-president engineering Dave Scott said. “This was true, beginning with our earliest pilot programs in 2009 and it’s still true as we expand our installation base to include more than 30 countries.”
Scott said LED Roadway Lighting’s growth rate is very high with significant sales opportunities in several areas of Central and South America, the Caribbean, Australia and other key markets.
“Securing these projects will bring benefits to Nova Scotia in terms of employment and related economic activity,” Scott said. “In the past year alone, we have added more than 100 employees and will continue on this path of growth in 2013.”
Skabar credits the company for developing a successful business model and shipping a Nova Scotia product around the globe.
“It’s a business model that’s obviously working with sales around the world and it’s all built by you,” Skabar said. “We are so pleased to be able to help this company. You are the ones selling Nova Scotia around the globe.”
The investment, he said, will help the company further develop its products and take advantage of new market opportunities.
Amherst Mayor Robert Small said LED Roadway Lighting has brought the stability the community needed for a facility that over the years was home to several business including Northern Telecom, SCL Technologies, Primetech and Celestica.
“When you’re operating a town the trouble is businesses come and go and it affects the people who live here,” the mayor said. “The fact LED Roadway is here for the long term and NSBI is investing in LED Roadway speaks volumes about the work taking place here.”
The mayor said it’s not often the town gets to work with a company in developing and testing a product. Amherst was the first Nova Scotia municipality to convert its street lights to LED bringing about energy and cost savings.
“Today the town is a showcase for LED Roadway Lighting and enables them to bring potential purchases to Amherst to view their product and our town,” the mayor said.