Government of Canada investment supports growth of agri-food sector in eastern P.E.I.
News release
Innovative new equipment will help businesses operate more efficiently while meeting growing demand
December 21, 2023 · Montague, Prince Edward Island · Atlantic Canada Opportunities Agency (ACOA)
Atlantic Canada has established itself as a key player within the national and global agri-food industries. Distinctive products emerging from Prince Edward Island continue to grow and strengthen this high-potential sector. The Government of Canada is investing to help three agri-food businesses in eastern P.E.I. become more innovative, competitive and productive.
Eastern P.E.I. businesses modernizing operations and scaling up production
Today, the Honourable Lawrence McAulay, Minister of Agriculture and Agri-Food and Member of Parliament for Cardigan, announced repayable contributions totalling $990,066 through the Regional Economic Growth through Innovation (REGI) program to help three agri-food companies in eastern P.E.I. seize new growth opportunities through process improvements, product expansion and access to new markets.
The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
With this support, Atlantic Roasted Products Inc., a locally-owned and operated animal feed roasting facility, will scale up its operations and reach new markets. Healthy Berries Ltd., a producer of one-of-a-kind superfood purees, will expand its packaging offerings so it can partner with new clients. The announced contribution will also help Machon’s Point Fishermen’s Co-operative Limited diversify operations to provide bait freezing and storing capacity to its membership.
Today’s announcement further demonstrates the Government of Canada’s commitment to strategic investments that boost momentum in Atlantic Canada’s key industries, and set the stage for a strong, sustainable future for all Canadians.
Quotes
“We have all the ingredients to continue growing a competitive agriculture and agri-food sector here in Atlantic Canada. Today’s investment will make sure farmers and entrepreneurs from PEI have the tools they need to reach global markets, and that’s good news for all of us.”
- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
“The demand for Canadian food products is growing, and we’re committed to supporting businesses in the supply chain that can help meet these demands and establish new markets. These investments in innovative equipment are vitally important to ensuring our Canadian producers have a clear path to a profitable future.”
- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food and Member of Parliament for Cardigan
Quick facts
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In 2022, Canada’s agriculture and agri-food system employed 2.3 million people and generated $143.8 billion (around 7 percent) of Canada's gross domestic product (GDP).
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Prince Edward Island's agriculture and agri-food sector (including seafood production) contributes in excess of $1.1 billion to the Island's GDP. At peak season the sector directly employs over 14,000 people.
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The funding announced today is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program, which helps businesses and non-profit organizations develop a strong, dynamic and inclusive economy.
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Contacts
Kevin Lemkay
Director of Communications
Office of the Minister of Rural Economic Development
and of the Atlantic Canada Opportunities Agency
Kevin.Lemkay@acoa-apeca.gc.ca
Sharon McGuigan
Manager of Communications
Atlantic Canada Opportunities Agency
Sharon.McGuigan@acoa-apeca.gc.ca
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