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.