Province opens $2M fund for Borden-Carleton, Albany area
The province has announced the details of a $2 million fund set up by McCain Foods to be administered through Innovation PEI for the Borden-Carleton and Albany area, to support local businesses.
Applications to the McCain Foods Adjustment Fund opened Monday. The fund was established by McCain when it closed its french fry plant in the area in 2014, and said it was to be administered by the province.
"I want to thank the McCains for doing their part to ease some of the hardships by the closure of this plant, caused to many Islanders," said Heath MacDonald, P.E.I. Minister of Economic Development and Tourism, regarding the establishment of the fund.
The fund is open to businesses, community, and non-profit organizations that meet the province's criteria of quality employment.
The Town of Borden-Carleton has also been looking for ways to stimulate economic development in the community and will likely want to tap into the fund.
MacDonald said the fund should provide a much needed boost into the local economy.
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