The Kensington Enterprise Centre Limited was officially opened today during an open house business mixer at the new facility in Kensington. This 15,100 square-foot industrial complex will accommodate and attract the needs of new and expanding businesses in the hub of Prince Edward Island.
"The opening of this new industrial complex is a prime example of community, business and all levels of government working together to improve the economic development of a rural community," said the Honourable Michael F. Currie, Minister of Development and Technology. "It provides the necessary infrastructure to encourage business investment and expansion therefore creating economic benefits for the community and region."
Kensington and Area Chamber of Commerce, the Town of Kensington, Central Development Corporation and other partners were committed to establishing a stronger economy in central PEI, and the construction of this new facility is the first step in that direction.
"This facility will have an immediate impact on the community's ability to attract and grow new and existing business, resulting in solid long-term economic growth," added Norman Gallant, Chairman of Central Development Corporation.
The facility provides fully-serviced, light industrial space and consists of 1,400 square feet of office space and four units ranging in size from 1,500 square feet to 5,200 feet. The first tenant to occupy space in the new centre is The Maritime Provinces Harness Racing Council.
The Department of Development and Technology, through PEI Business Development, contributed an amount of $250,000 from its Infrastructure Program. The Kensington Enterprise Centre Ltd. contributed $350,000 by way of a mortgage, and the Town of Kensington provided the land valued at $40,000.