What's Happening?
The federal government has announced an investment of over $4.2 million in Saskatchewan to bolster the province's agriculture industry. The funding, provided by Prairies Economic Development Canada (PrairiesCan), aims to support innovation, manufacturing, and value-added production. Key recipients include the Global Institute for Food Security, Venlaw Manufacturing Ltd., the Saskatchewan Food Industry Development Centre, and Ag-West Bio Inc. The investments are expected to create over 30 new jobs, generate $7 million in export revenue, and boost commercialization revenue growth by $51 million.
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Why It's Important?
This investment is significant for Saskatchewan's agriculture sector, which accounts for nearly 40% of Canada's total farm area. By supporting advanced crop and livestock breeding programs, expanding manufacturing capabilities, and enhancing food processing capacity, the funding aims to strengthen the province's role in food security and economic stability. The initiative is expected to help producers grow, process, and sell more both locally and internationally, contributing to a robust Canadian economy.
What's Next?
The funds were allocated through PrairiesCan's Business Scale-up and Productivity program and the Regional Innovation Ecosystems program. These programs support high-growth businesses and regional organizations fostering innovation. The investments will facilitate the development of higher-yielding crops and livestock, automation in grain bin manufacturing, and expansion of co-packing and incubation space. The Agri-Value Forum will promote value-added agriculture, further enhancing the sector's growth.
