Investments in clean technology and automation help Eastern PEI businesses to modernize
News release
Government of Canada investments support clean, inclusive recovery and long-term economic growth
May 30, 2022 · Georgetown, 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, the Honourable Lawrence MacAulay, Minister of Veterans Affairs and Member of Parliament for Cardigan, announced a total investment of $757,500 through the Jobs and Growth Fund for two projects in Eastern PEI that will create new jobs in the region. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
Frontier Power Systems Inc. is receiving a $650,000 repayable contribution to support the commercialization of its advanced wind/diesel power system. The investment will assist in the production of next generation wind turbines and a battery energy storage system that will be deployed in a commercial, remote micro-grid demonstration project.
Eastern Farms Ltd. is receiving a $107,500 repayable contribution to support investment in automation for its potato packaging line. The new equipment will increase production capacity and support long-term growth for the company while improving employee safety by reducing reliance on physically demanding processes.
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 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
“Companies across eastern PEI continue to innovate and modernize to support jobs and growth in our communities. The Government of Canada is ensuring programs are in place to support vital rural-based businesses like these, as we work together to create more economic opportunity in our region.”
- The Honourable Lawrence MacAulay, Minister of Veterans Affairs and Member of Parliament for Cardigan
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
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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
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