The province is giving $10 million to the Town of Lewisporte for economic development and the future transfer of the Lewsiporte wharf.
Premier Andrew Furey made the announcement today in the town.
The money will be split into two streams, with $5 million going to local economic development projects and the remaining money going to the future transfer of the wharf that was originally used for marine freight.
The move hopes to mitigate the impacts of the closure of the freight service in Lewisporte.