The province of Prince Edward Island will contribute up to $4.5 million toward the construction of a National Research Council facility in Charlottetown.
The contribution was announced this afternoon by Premier Pat Binns and Development and Technology Minister Mike Currie.
The facility will become the cornerstone of a cluster of private businesses and public institutions dedicated to research. It will work in partnership with the University of Prince Edward Island, the Atlantic Veterinary College and the Food Technology Centre, among others.
The research centre will be constructed on the UPEI campus.
"The importance of science and research cannot be understated. There is much to be gained from having a facility of this type, both in terms of knowledge investment and potential commercialization," said Premier Binns.
Today's announcement was made at Fortius, a company which is already very involved with nutraceutical research and development.
"With this facility, we have the opportunity not only to engage in ground breaking research, but also to lead the way in the development and manufacture of products that come as a result of that research," said Development and Technology Minister Mike Currie.
Partners in the Institute include the Atlantic Canada Opportunities Agency, the National Research Council and the University of Prince Edward Island.