Italpasta Limited: Pasta Manufacturer Receives $3.4M in Business Funding Grants
Under the Growing Forward 2 (GF2) initiative, a Brampton, Ontario-based pasta manufacturer Italpasta Limited, will receive a $3.4M investment to help with the purchase of manufacturing and production equipment. With the funds from GF2, Italpasta will become an industry leader in the manufacturing and production of Canadian pasta products. Because of this Canadian government grant, eight positions within the company will be created. This process was contributed by the AgriInnovation Program, a 5-year initiative under the GF2 federal policy framework.
“Our Government is proud to support the implementation of innovative processes that help agri-businesses gain market share. The expansion of Italpasta Limited will increase demand for inputs sources from Canadian farmers, improving our producers’ bottom lines and growing our overall economy. (Government of Canada)”
–Agriculture Minister Gerry Ritz
Agricultural Growth Supported by Business Funding Grants
Growing Forward 2 is a $3 billion dollar, five-year policy framework for Canada’s agri-food sector and Agricultural industry. It is offered by federal, provincial, and territorial governments, along with the foundation for government agricultural programs and services. The programs strive to help Canadian manufacturers and producers capitalize on emerging marketplace opportunities by focusing on innovation, commercialization, and market development.
The AgriInnovation program provides Canadian agricultural businesses a fully re-payable loan at 0% interest. With investments from this program, agricultural businesses are able to apply these funds to innovation promotion and productivity initiatives. The agriInnovation program merges the pre-commercialization and commercialization stages of innovation.
Discover Agriculture Government Funding for Businesses
To learn more about support services please contact one of our Canadian government funding experts. For up-to-date business funding information, and to learn more about Canadian grants and incentives offered to businesses, please subscribe to our weekly government funding E-Newsletter. Also, be sure to register for an upcoming complimentary agri-funding webinar to learn more about GF2 and other programs applicable to food and beverage processors.