IAF Food Processing Growth Fund for British Columbia
June, 8, 2023 Update: The Food Processing Growth Fund (FPG) is no longer accepting applications due to an overwhelming response from the industry. The program originally had a second review deadline of July 18, 2023, however, that is no longer the case. The program may add additional review dates if they have leftover funding, we will update as this news becomes available.
In efforts to strengthen the competitiveness, innovation, and resilience of the agriculture sector across Canada, the Government of Canada implements a variety of measures annually to support food businesses across the country in meeting their goals.
British Columbia has announced funding under the Food Processing Growth Fund (FPG) with a total of $20 million over three years to provide eligible businesses with $50,000 to $1 million in funding for infrastructure, equipment, and/or training projects.
This announcement comes just weeks after the opening of four new SCAP programs for Alberta businesses and the announcement that Ontario SCAP programs are opening for intake mid-May 2023. Look out for tomorrow’s blog on the Ontario SCAP Grow to Ontario funding program. Manitoba SCAP programs are also being released and news on all provincial programs will be announced as information becomes available regarding more agri-food related funding across the country similar to IAF support.
Funding Snapshot: Food Processing Growth Fund (FPG)
Administered by the Government of British Columbia (B.C.) through the Ministry of Agriculture and Food (AF) and delivered by the Investment Agriculture Foundation of B.C. (IAF), the Food Processing Growth Fund (FPG) aims to increase food production and economic growth in B.C. by helping established B.C. food-processing businesses expand and evolve to support the continued success for the province’s largest manufacturing industry.
“Helping B.C.’s food and beverage companies increase their production will result in more B.C. ingredients being used, more B.C. products being enjoyed and more economic activity in communities around our province. The [FPG] fund will help businesses increase their capacity and sales, and further support the food security and livelihoods of British Columbians.”
– Pam Alexis, Minister of Agriculture and Food.
The FPG fund supports projects such as upgrades to established businesses (new or expanded facilities), the adaptation or adoption of robotics and other technology, new product development and commercialization, specialized training for production staff on new technology and systems and hiring specialized experts (food scientists to research new products and processes).
Funding Amount
Eligible applicants may receive from $50,000 to $1 million in cost-shared funding for infrastructure, equipment, and training projects, depending on their activities and budgets.
- The FPG fund will provide cost-shared funding of up to 75% of eligible costs. The remaining 25% of project revenues for eligible costs must be supplied by the applicant or other funding sources.
- Projects may be up to 24 months in duration, although all projects must complete by February 1, 2026.
Is your B.C. business interested in applying for the FPG funding program? Learn more by connecting with a member of the Mentor Works, a Ryan Company, team to streamline the funding process and help with the application writing.
Eligible Applicants
To be eligible for the FPG funding program, an applicant must be:
- Located in the Province of British Columbia; and either:
- An established food and/or seafood processing business, with:
- Minimum of 2 years in operation; and
- Minimum of $500,000 gross annual revenues (audited financial statements will be required for verification purposes); or
- A commercial food hub, commissary kitchen and other shared-use commercial food processing facility; or
- An industry group or association.
Project Eligibility
The following project types are eligible for funding through the FPG funding program:
- Purchase and install new or upgraded/expanded facilities and infrastructure and equipment;
- Purchase and install new technology and systems;
- Applied Research & Development (R&D) for new and improved products, lab analysis, packaging; and
- Training that supports infrastructure or equipment upgrades or adoption.
Timeline
The intake for the FPG fund opens April 26, 2023. The fund is accepting applications on an ongoing basis until all funding is allocated.
Applications will be reviewed in two batches and funded based on the priorities provided by the Ministry of Agriculture and Food. The review dates for each application batch for the 2023/24 fiscal year are June 6, 2022, and July 18, 2023.
Canadian Agriculture Funding for British Columbia
Browse our Canadian Agribusiness Funding Programs Directory to find grants, loans, and tax credits available to businesses located in British Columbia. Government funding programs, such as SCAP variants like the Food Processing Growth Fund (FPG), can support a variety of economic growth and innovation food projects to boost the industry.
“Food security in British Columbia requires an available, affordable, and uninterrupted supply of nutritious food. At the same time, we need targeted, effective programs that support the people and communities most impacted by rising inflation, climate events and supply-chain shocks.”
– Premier of British Columbia, David Eby
Canadian government funding programs are constantly changing and evolving, with new programs frequently released, and existing programs updating funding amounts and timelines. As further SCAP funding programs are announced, make sure your business stays updated by signing up for our free weekly newsletter and/or attending an upcoming webinar.
