COWS Inc. will receive up to $1.8 million under Dairy Processing Investment Fund
Staff Writer
Farms.com
A creamery in Charlottetown will expand its operations, thanks to recent government funding.
Lawrence MacAulay, minister of agriculture and agri-food, and Sean Casey, Charlottetown’s MP, yesterday announced an investment up to $1.8 million to COWS Inc. The Atlantic Canada Opportunities Agency provided another $800 thousand under the Dairy Processing Investment Fund.
COWS Inc. will use the funds to expand its processing capacities, developing new varieties of cheese and butter.
The investment “will help COWS deliver more of their award-winning cheeses and dairy products to consumers in Canada and abroad, which will help grow our economy and create well-paying jobs," MacAulay said in a
release yesterday.
To date, the Dairy Processing Investment Fund has approved fourteen dairy processors for funding, valued at over $20 million, under the Dairy Processing Investment Fund. Recipients have used the funding for research and development in cheese, milk drying, yogurt, butter and cream.
Canadian dairy contributes significantly to the country’s economy, bringing in $20.9 billion via sales by farmers and food processors. The funding is a great opportunity for COWS to “capitalize on recent growth and award wins,” Chad Heron, vice president the company, said in the release.
COWS makes ice cream, chocolate and butter, and operates ice cream parlours.
The funding “will allow COWS to fulfill larger and more frequent orders with increased efficiency, while also setting a solid foundation for continued growth of new products and customers," Heron said.
iStock/Getty Images Plus/Grigorenko photo