KEDC Seeks Private Sector Firms to Invest in Cranberries
KEDC, in partnership with the Cape Freels Development Association (CFDA) is seeking an expression of interest for private sector individuals to invest in Cranberry Farms within Zone 14. KEDC and its partners will be holding a public information session this spring.
This session will highlight the steps necessary for development, from initial site selection to business planning, funding and financing. Representatives from the Provincial Department of Innovation, Trade and Rural Development, the Department of Natural Resources, and the Atlantic Canada Opportunities Agency will be on hand to discuss the business case surrounding cranberry development in the region.
“Cranberry farm development has received significant interest and support from government and the general public” explains Jill Bennett, Executive Director with the Kittiwake Economic Development Corporation. “We’ve identified a number of individuals who are interested in developing and managing significant sized farms in the Kittiwake region, and we’re looking for private sector firms to partner, or become involved to a greater degree.”
The Kittiwake Economic Development Corporation wishes to support the development of cranberry farms in the region and supports the cranberry commercialization strategy developed by the provincial government. As part of this strategy, the Department of Natural Resources’ Cranberry Industry Development Program is designed to offset the costs of developing the land. A subsidy of $15,000.00 per acre is available.
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