What's Happening?
The federal government has announced an investment of over $4.2 million in Saskatchewan to enhance the province's agriculture industry. This funding, managed by Prairies Economic Development Canada (PrairiesCan), aims to support innovation, manufacturing, and value-added production within the sector. Key initiatives include advanced crop and livestock breeding programs, expansion of local grain bin manufacturing, and enhancement of food processing capacity. The Global Institute for Food Security at the University of Saskatchewan will receive over $1.6 million for a genomic selection-based accelerated breeding program. Venlaw Manufacturing Ltd. is allocated $2.1 million to automate grain bin manufacturing, while the Saskatchewan Food Industry Development Centre will receive $420,000 to expand co-packing and incubation space. Ag-West Bio Inc. is granted $20,000 to host the Agri-Value Forum in 2025 and 2026.
Why It's Important?
This investment is significant as it is expected to create over 30 new jobs and generate $7 million in export revenue, boosting commercialization revenue growth by $51 million. The funding supports Saskatchewan's agriculture sector, which accounts for nearly 40% of Canada's total farm area. The sector has more than doubled in size over the past decade, indicating its critical role in food security and economic stability. By enhancing local production capabilities, the investment aims to strengthen the province's position in both domestic and international markets, fostering economic growth and innovation.
What's Next?
The funds are distributed 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 investment will enable producers to 'grow more, process more, and sell more,' as stated by Buckley Belanger, Saskatchewan’s Secretary of State for Rural Development. The initiatives are expected to lead to increased agricultural output and expanded market reach, contributing to the province's economic development.
