St. John's Board of Trade and Newfoundland and Labrador Employers' Council Announce Opening of Wage

Press Release
May 16, 2024
 

St. John's Board of Trade and Newfoundland and Labrador Employers' Council Announce Opening of Wage Support Program

St. John’s, NL – The St. John’s Board of Trade and the Newfoundland and Labrador Employers’ Council, in partnership with the Government of Newfoundland and Labrador, are pleased to announce that the Newfoundland and Labrador Wage Support Program is now accepting applications. Eligibility requirements and the application form are now available at NLWageSupport.ca.

As announced on April 19, this initiative is designed to assist small- and medium-sized businesses in managing the challenges posed by rising operational costs, especially following the recent increase in the minimum wage. Over $2,000,000 is being provided by the Provincial Government, through the Canada-Newfoundland and Labrador Labour Market Development Agreement, to offer financial assistance to approximately 600 businesses in the province.

Businesses across the province with fewer than 100 employees that had at least one employee paid at the minimum wage rate between April 1, 2023, and March 31, 2024, are eligible to receive a one-time payment of $2,500 to $5,000 through the Newfoundland and Labrador Wage Support Program.

“Business ventures, entrepreneurs, and workers form the backbone of our economy,” said the Honourable Bernard Davis, Minister Responsible for Labour. “It is important to ensure a resilient and competitive business environment in Newfoundland and Labrador and our government is committed to ensuring just that. I encourage all eligible applicants to visit the website to learn more about the Wage Support Program and to apply today.”

“The Newfoundland and Labrador Wage Support Program is a timely and necessary initiative,” said Judy Sparkes-Giannou, Chair of the Newfoundland and Labrador Employers’ Council. “This program will provide essential financial relief to many businesses, helping them manage increased labor costs and continue to thrive in our community.”

“We are proud to launch this important program,” said AnnMarie Boudreau, CEO of the St. John’s Board of Trade. “The Wage Support Program will directly support businesses throughout our province who need it, allowing them to continue contributing to our province and our economy.”