GOVERNMENTS OF CANADA AND NOVA SCOTIA ANNOUNCE MAJOR INVESTMENT OF $7 MILLION FOR AGRICULTURAL INNOVATION IN TRURO

TRURO (NS) – January 24, 2010 –Nova Scotia Agricultural College (NSAC) will benefit from $7 million in funding from the Atlantic Canada Opportunity Agency (ACOA) and the Province of Nova Scotia for the construction of the Atlantic Centre for Agricultural Innovation at NSAC.

The funding was announced by the Honourable Peter MacKay, Minister of National Defence on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency and Minister for the Atlantic Gateway, and the Honourable John MacDonell, Nova Scotia’s Minister of Agriculture.

The Government of Canada is investing $2 million from ACOA’s Community Adjustment Fund (CAF), a key economic stimulus initiative under Canada’s Economic Action Plan for the first two phases of the project. The Province of Nova Scotia is investing $500,000 in the first two phases and $4.5 million in the third and final phase.

“The Government of Canada is pleased to invest in infrastructure projects that promote agricultural innovation in Atlantic Canada,” said Minister MacKay. “This investment reflects the objectives of our government’s Economic Action Plan by making strategic investments in economic sectors that position Canada for new and sustained growth as we emerge from the global recession.”

“Investment in this facility ties in well with the development of our government’s 10 year strategy for agriculture by providing a state-of-the-art research facility that will connect the work of Nova Scotia’s agri-based researchers, producers, and processors,” said John MacDonell, Nova Scotia Minister of Agriculture. “The Atlantic Centre for Agricultural Innovation will support local agri-businesses to take advantage of new bio-product opportunities.”

The federal contribution will assist with site work, site services and the construction of the foundation and building shell. Once constructed, the Centre will play a critical role in addressing the commercialization gap between agricultural research and development for startup and established agri-based businesses. NSAC will also use this new facility to incubate, accelerate and attract businesses to the Truro/Colchester region.

The third phase of the project, being funded by the province, includes the completion of the interior of the building resulting in space for future tenants as well as laboratories and cold storage.

“I want to recognize the people and organizations, especially the Colchester Regional Development Agency, who have worked to make this Centre a reality,” said Leslie MacLaren, NSAC Co-President and VP Academic. “The NSAC believes this facility provides a location for researchers and innovators to come together with entrepreneurs and business development professionals to create new agriculture business opportunities.”

Canada’s Economic Action Plan, through CAF will deliver a total of $1 billion to local economies throughout Canada. The total CAF allocation for Atlantic Canada is $100.4 million. The Community Adjustment Fund is delivered in Atlantic Canada by ACOA.

The Canadian economy has begun to turn the corner. Once certain the economic recovery has taken hold, the Government of Canada will move forward with plans to return to balanced budgets.

For information on Canada's Economic Action Plan, please visit www.actionplan.gc.ca.