BORDEN-CARLETON – The final business to receive funding from the McCain Foods Adjustment Fund has been named.
On Tuesday the provincial government announced Island Acres Produce and Prince Freight Lines received $121,250 to go towards a new building headquarters, as well as $25,000 from the Borden-Carleton Development Fund (administered by Central Development Corporation).
"The McCain Fund will help us move forward in a new facility,” said Brent Craig, owner of Island Acres Produce and Prince Freight Lines.
“This space will allow us to house our sister company, Prince Freight Lines Inc, and work together to serve our customers, staff and community now and in the future."
The $2 million economic development fund was set up by McCain’s after the closure of their Albany plant in 2014.
In order to dole out the money, Innovation P.E.I. established a steering committee to administer the fund and review funding applications. The committee included representatives from Innovation PEI, Borden-Carleton, the Central Development Corporation, ACOA, and McCain’s. The first round of grants was announced in 2017. A second call for proposals was issued in 2018 to grant the remaining funds. The fund is administered by Innovation P.E.I.
“The McCain Fund provided significant investments and product development for businesses in the Borden-Carleton region,” said Economic Growth Minister Matthew MacKay said.
“It helped create good jobs for hard-working Islanders and positive, lasting impacts for Prince Edward Island.”
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FACTBOX:
Past Recipients of the McCain Foods Adjustment Fund:
– MacDougall Steel
– Silliker’s Glass
– The Handpie Company
– Town of Borden-Carleton
– Tree Top Haven
– Island Gelato
– Bernard’s Welding
– Lone Oak
