Minister Gould Announces Significant Investment in Food Manufacturing Sector
Ottawa, November 14, 2024 – The Honourable Dan Gould, Minister of Innovation, Science and Industry, today announced a major investment of $250 million in the Canadian food manufacturing sector. This investment aims to enhance the sector’s competitiveness, innovation, and sustainability.
“Our government recognizes the vital importance of the food manufacturing sector to our economy and the well-being of Canadians,” said Minister Gould. “This investment will provide businesses with the resources they need to thrive and meet the growing demand for high-quality, sustainable food.”
The investment will be distributed through a combination of grants, loans, and tax credits. Funding will be available for projects that enhance food safety and quality, increase production capacity, drive innovation, and support sustainable practices.
“This announcement is a game-changer for the Canadian food manufacturing sector,” said Mary Parsons, President of the Food and Beverage Association of Canada. “This investment will enable our members to invest in leading-edge technologies, improve their operations, and create new growth opportunities.”
The investment is part of the government’s larger commitment to supporting the innovation economy. The food manufacturing sector plays a crucial role in Canada’s economy, contributing over $120 billion in GDP and employing over 250,000 Canadians.
“This investment will strengthen Canada’s position as a global leader in food production,” said Sarah Morton, CEO of Food Secure Canada. “By supporting sustainable practices and innovation, we can ensure that our food system is resilient and able to meet the needs of future generations.”
The application process for funding will open in early 2025. Interested businesses are encouraged to visit the Innovation, Science and Economic Development Canada website for more information.
Minister Gould to announce an investment in the food manufacturing sector
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