Government of Canada supports Jumping Bean Coffee's growth into new markets
January 25, 2019 – Mount Pearl (NL) – Atlantic Canada Opportunities Agency
Atlantic Canada's food and beverage processing industry offers a diverse range of products, creates local employment and supports economic growth by generating significant revenue. Jumping Bean Coffee Inc. is contributing to the industry's growth with plans to increase product development and expansion into new national and international markets.
Jumping Bean Coffee is ramping up expansion into more Canadian retail outlets with its unique brand of fair trade, eco-friendly roasted coffee. A recent national listing with Sobeys Inc. will increase Jumping Bean's presence from 70 Atlantic Canadian stores to up to 700 of the grocery retailers' outlets across Canada. In addition, Jumping Bean is revamping its packaging and increasing marketing, sales and production to tap into major retail outlets in the United States.
That is why the Government of Canada is investing a total of $500,000 in the company, with a $293,750 repayable contribution for market expansion in Canada and a $206,250 conditionally repayable investment to support growth in the U.S. market.
The Honourable Seamus O'Regan, Minister of Indigenous Services and Member of Parliament for St. John's South-—Mount Pearl, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), made the announcement during a recent visit to Jumping Bean's coffee roasting facility.
The Government of Canada is making smart investments that will create good, middle-class jobs in our country. It is helping small and medium-sized businesses to start-up, expand or modernize. Support for this project is one way the Government of Canada is working to achieve its Atlantic Growth Strategy outcome of long-term economic prosperity in the region.
"Atlantic Canadian companies, such as Jumping Bean Coffee, understand the benefits of diversifying and expanding into key international markets in order to sustain continued business growth. The Government of Canada is pleased to invest in this local business, which is making strides in new markets and helping to grow the region's food manufacturing sector."
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
"It's great to see dynamic local businesses like Jumping Bean Coffee taking on the world and thriving here at home. Through this investment, Jumping Bean will continue to build on its successful business model by developing and marketing an environmentally conscious product, focusing on high quality in its manufacturing techniques, and creating good jobs."
- The Honourable Seamus O'Regan, Minister of Indigenous Services and Member of Parliament for St. John's South-Mount Pearl
"We're incredibly excited about our February launch with a nationally recognized online and retail partner in the United States. We're truly grateful for the opportunity to expand our brand and we're optimistic that Jumping Bean's whole bean and single serve products will be well received in this market."
- Jeff LeDrew, Founder and CEO, Jumping Bean Coffee Inc.
Quick facts
Jumping Bean Coffee Inc. was established in 2005. The company operates an independent premium coffee roasting facility at its Mount Pearl plant, supplies national retailers with its products, and manages a system of corporate and franchise cafés.
The Government of Canada is investing a total of $500,000 in this company through ACOA's Business Development Program (BDP).
The BDP primarily assists Atlantic Canadian entrepreneurs who want to start a business, increase productivity or improve operations.
