Chatham-Kent hopes to land $50M agriculture & food processing investment fund
From the Wallaceburg Courier Press
Chatham-Kent officials returned to China on Thursday with the goal of further cementing relationships to attract investment. It is also hoped Chatham-Kent will become home to where a $50-million agriculture and food processing investment fund is administered.
During the trip, Michael Burton, director of economic development, said the municipality is hoping to be able work with the Canadian federal government and Chinese government to establish an agriculture and food processing innovation fund to be based out of Chatham-Kent.
“If it’s successful, that will be $25 million from China and $25 million from Canada,” he said.
The innovation fund would primarily fund start-up companies, Burton said.
Chatham-Kent is an ideal location for food processing with its strong agricultural base along with large supply of water and water treatment capacity, he said.