The agriculture and food sector is set to receive a $25 million investment from both the federal and provincial governments to expand production capacity and improve energy efficiency. This funding is part of the Agri-Tech Innovative Initiative, which aims to enable farmers and processors to invest in technology, equipment, or processes that will help them achieve these goals.
Lisa Thompson, Ontario Minister of Agriculture, Food, and Rural Affairs, and Huron-Bruce MPP, highlighted the importance of keeping Ontario farmers and processors at the forefront of innovation. She believes that the program will help drive efficiencies and greater production for both parties. Ultimately, this will lead to better cost of production and have a positive impact across the entire value chain, potentially even providing savings for consumers.
The Agricultural Adaption Council will manage the application process on behalf of the Ontario Ministry of Agriculture, Food, and Rural Affairs (OMAFRA). The program will focus on raising awareness over the next few months and will begin accepting applications on February 15, 2024.
Projects with budgets of up to $100,000 will be eligible for a cost-share of up to 50%, while larger projects will be eligible for a 35% cost-share, up to $100,000. This significant financial support aims to incentivize innovation and sustainable practices within the agriculture and food industry.