The local business community and primary processors will benefit from a new 23,000 square foot cold storage facility to be located in the Souris Food Park. A federal and provincial investment of $1.5 million for the new facility was announced today by the Honourable Keith Ashfield, Minister of State (Atlantic Canada Opportunities Agency) and the Honourable Allan Campbell, PEI Minister of Innovation and Advanced Learning.
“The Government of Canada, through ACOA, is pleased to support the Souris Harbour Authority Inc. (SHAI) efforts to bring new business to the community,” said Minister Ashfield. “Our government’s investments in infrastructure- related projects like this one help keep our communities vibrant and strong.”
The federal and provincial government investment of just over $1.5 million is supporting the construction for the new facility which, when completed, will have a capacity of five million pounds, plus two 20,000 lb. blast freezers. The new facility will be available to a variety of users including seafood processors on PEI and nearby Îles de la Madeleine, as well as fishermen and fruit and vegetable processors in the area.
“Funding this cold storage facility is a good investment for the province because it will support our primary processors and help attract new business to the Souris Food Park,” said Minister Campbell. “It will also strengthen our rural communities by creating new economic development opportunities.”
Rather than build their own cold storage facilities, many processors prefer to use public cold storage for pre-shipping as well as to meet their seasonal and long-term needs.
“Thanks to federal and provincial support on this project, we will be able to fulfill the substantial need that exists for this type of facility,” said Mr. Thibodeau, President of the Souris Harbour Authority Inc. “This business initiative is a key element of our waterfront development strategy that contributes to the long term growth and sustainability of the Harbour Authority.”
Construction began in late October, with the new facility expected to be operational by May 1, 2009.
The total investment in the facility is $3,500,000. The Atlantic Canada Opportunities Agency is providing a $500,000 repayable loan through its Business Development Program. The provincial government is contributing $1,000,000 towards the project. SHAI and its commercial lender, the Bank of Nova Scotia, are investing $2,000,000.