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.
