$20 million fund good news for Ontario food processors

Minister Goodyear announces investment to support Ontario’s food and beverage processors

The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) announced a $20 million investment today in Guelph that will allow food and beverage processors operating in Southern Ontario access to funds to expand, modernize, innovate and/or improve their competitiveness.

AOFP President, Craig Richardson thanked Minister Goodyear on behalf of the industry noting “This investment will ensure Ontario food and beverage processing businesses can make the investments they need to remain competitive and keep jobs in Ontario”.

Eligible projects include those that expand capacity, improve technology or equipment, improve productivity and competitiveness of a business, provide access to new markets, innovate products or services, and promote the commercialization of innovations.

Applications are being accepted beginning today and will be accepted until December 22, 2009. FedDev Ontario will favour projects that can be started quickly and completed by March 31, 2010. Applications are being accepted under the Southern Ontario Development Program (SODP).

The investment will allow Southern Ontario food and beverage processors, associations, and academic institutions the opportunity to invest in a variety of initiatives that promote a strong and competitive food and beverage processing sector, keeping jobs and economic growth in Southern Ontario.

Applications for the Southern Ontario Development Program are being accepted now.