New equipment and technologies help Central PEI businesses to grow and improve productivity
News release
Government of Canada investments support clean, inclusive recovery and long-term economic growth
April 29, 2022 · Central Bedeque, Prince Edward Island · Atlantic Canada Opportunities Agency (ACOA)
A key part of Canada’s economic recovery is supporting businesses as they adapt, grow and move forward from the COVID-19 pandemic. Small and medium-sized businesses and the organizations that support them represent the backbone of regional economies. They generate quality local jobs and are a source of pride for their communities. To do so, businesses and entrepreneurs need a strong foundation, built on technological innovation, inclusivity, and clean growth to create the workforce of the future.
Federal investments support business growth
Today, Heath MacDonald, Member of Parliament for Malpeque, announced a total investment of $1,248,850 through the Jobs and Growth Fund (JGF) for two projects in Central PEI that are expected to create up to 27 new jobs. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
P.E.I. Bag Co. is receiving a $1,000,000 repayable contribution to acquire state of the art manufacturing equipment to increase production capacity, ensure product quality, and improve worker safety. This financing will allow the company to expand its clientele and provide more innovative packaging options for food producers and processors in Atlantic Canada.
In addition, The Handpie Company is receiving $248,850 in repayable funding to expand its operations into a new manufacturing facility and acquire equipment to support automation of its production processes. This funding will enable the company to increase production, export to new markets, and create employment in the community.
Launched in July 2021, the Jobs and Growth Fund (JGF) provides $700 million over three years to Canada’s regional development agencies to support a regional response and stimulate economic recovery following the COVID-19 crisis by investing in projects that will help to create jobs. Through the JGF, the Government of Canada aims to support the transition to a green economy, foster an inclusive recovery, enhance competitiveness, and create jobs in every corner of the country.
Quotes
“The vitality of our business communities across Atlantic Canada is key to our economic recovery. We’ll continue to invest in our local businesses and the organizations that support them to create good jobs, support inclusive and clean growth opportunities, and build resiliency for years to come.”
- The Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA
“As we emerge from a challenging two years, these companies are creating essential new employment opportunities in PEI’s rural communities. We recognize the importance of providing support at all stages of growth to ensure that Atlantic Canada based businesses remain globally competitive.”
- Heath MacDonald, Member of Parliament for Malpeque
Quick facts
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In Atlantic Canada, ACOA is delivering $70 million of the $700-million national Jobs and Growth Fund (JGF) to eligible businesses, non-profit organizations, community economic development partners, and Indigenous-led organizations and businesses, with projects that:
o support the transition to a green economy
o foster an inclusive recovery
o preserve Canada’s competitiveness and future-proof businesses through digital adoption
o strengthen capacity in sectors critical to Canada’s recovery and growth -
For more information on the application process, eligibility criteria and eligible expenses, or to apply for the JGF, reach out to your regional development agency.
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Canada’s regional development agencies are continuing to deliver targeted support for economic recovery in the region. Application intake is open through ACOA for the Canada Community Revitalization Fund, Jobs and Growth Fund, Aerospace Regional Recovery Initiative and Tourism Relief Fund.
Associated links
Contacts
Marianne Blondin
Press Secretary
Office of the Minister of Official Languages and of the
Atlantic Canada Opportunities Agency
Marianne.Blondin@acoa-apeca.gc.ca
Mike Critchley
Senior Communications Advisor
Atlantic Canada Opportunities Agency
Michael.Critchley@acoa-apeca.gc.ca
Julie Murphy
Controller, P.E.I. Bag Co.
902-436-2261
julie@peibag.com
Sarah Bennetto O'Brien
CEO, The Handpie Company
902-437-3100
thehandpieco@gmail.com
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