TEESWATER, Ontario – The Ontario government is investing $25 million over three years to strengthen the agri-food supply chain. This funding will incentivize industry investment in projects that help address the processing capacity shortage and increase the sector’s competitiveness and resilience against future disruptions.
“Agriculture and food processing are a driving force that help power the Ontario economy and will contribute to our recovery and prosperity,” said Lisa Thompson, minister of agriculture, food and rural affairs.“ This strategic investment will not only boost capacity and competitiveness in Ontario’s agri-food processing sector, but it will also position the sector for long-term growth, create jobs, and promote economic opportunities for rural communities.”
Starting in 2021-22, the Strategic Agri-Food Processing Fund will provide grants of up to $3 million to agri-food processing businesses to invest in capital, equipment and technology. The initiative aims to increase processing capacity and productivity while also enhancing the food security of Ontarians.
“Workers in the agri-food sector have kept our supply chains strong through the pandemic, and Ontario’s agricultural and agri-food sector will play an important role in our province’s recovery and prosperity,” said Peter Bethlenfalvy, minister of finance. “Attracting investments that lead to good, well-paying jobs is a critical part of our plan to Build Ontario. This funding will go a long way toward ensuring this essential sector is more efficient, competitive and resilient against future disruptions.”
Specific program details will be available upon the program’s launch in the spring of 2022.
On November 4, the government released the 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario. The plan lays out how the government will build the foundation for Ontario’s recovery and prosperity by getting shovels in the ground on critical infrastructure, attracting increased investment, restoring leadership in auto manufacturing and other industries, and supporting Ontario workers. The plan also protects Ontario’s progress against the COVID-19 pandemic.
Quick facts
The 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario is the government’s seventh financial update since the pandemic began, highlighting the government’s commitment to providing regular updates on Ontario’s finances, even during this uncertain economic period. It is part of the government’s plan for recovery driven by economic growth.
