Grand River Foods receives major investment from Feds
Posted Apr 29, 2016 01:54:36 PM.
This article is more than 5 years old.
Grand River Foods in Cambridge received a mighty boost from the federal government today.
The food manufacturing company was awarded a $3-million dollar investment from the Federal Economic Development Agency for Southern Ontario (FedDev).
The announcement was made this morning by Waterloo Member of Parliament and Minister of Small Business and Tourism Bardish Chagger, with Kitchener South-Hespeler MP Marwan Tabbara.
Grand River Foods, who make over 200 food products, are using the investment to increase production and search for more export opportunities.
Kitchener South-Hespeler MP Marwan Tabbara was in his home riding to make the announcement and says the investment will also mean the addition of 50 new full-time jobs.
“These 50 full-time jobs will be created by 2017. The food industry keeps expanding with our numbers growing here in Ontario, so Grand River Foods needs to meet this demand and needs to be more competitive,” said Tabbara.
In a release, MP Bardish Chagger said this investment reflects the government’s commitment to helping companies expand globally.
“Our investment in Grand River Foods Ltd. is an example of how we are forging strong partnerships with businesses to support increased productivity in southern Ontario’s key sectors. We are proud of the company’s significant success at home and will support its’ growth into export markets.”
The $3-million investment from FedDev is part of a larger investment in Grand River Foods to the tune of $14.3 million made largely by private investors.
