The province is helping a locally owned dairy company expand its Truro facility, become more competitive, and protect and create good jobs for Nova Scotians.
With a larger and more efficient facility, Scotsburn Dairy Group will be able to secure new contracts and meet growing demand for its ice cream products.
The initial expansion will create 40 new jobs and protect more than 500 jobs in Nova Scotia.
“Scotsburn wants to capitalize on growing demand for its ice cream, but without the province’s support, it can be difficult to make the upgrades needed so they can win new contracts and continue to grow,” said Truro-Bible Hill MLA Lenore Zann, on behalf of Economic and Rural Development and Tourism Minister Graham Steele. “Through jobsHere, we’re making smart, strategic investments in local businesses, and helping to create and protect good jobs families can count on.”
The province is lending Scotsburn $5.5 million toward the company’s $10-million phase one expansion. The company can earn up to $480,000 in forgiveness, based on job creation. The loan is repayable over 15 years. A $2-million capital equipment incentive will also help Scotsburn buy new novelty ice cream machines.
“Over the past 10 years, Scotsburn Dairy has been aggressively pursuing new customers and markets for the premium ice cream products we make,” said Scotsburn president and CEO Doug Ettinger. “This financial assistance will allow us to continue to grow and create value-added jobs.”
Scotsburn’s expanded workforce is expected to earn nearly $35 million in annual payroll, money they can spend in their communities and to make life better for their families. The province will earn $17 million in direct tax revenue over five years.
“This is great news for Scotsburn Dairy and the province because of the benefits throughout the company’s supply chain,” said Scotsburn board chair and local dairy farmer Jim Burrows. “For Scotsburn dairy farmers like me, it is important to have our dairy investing in equipment that allows us to supply innovative products, and grow our consumer base.”
Scotsburn Dairy Group is the largest locally owned dairy processor and distributor, and the leading manufacturer of ice cream and frozen novelties, in Atlantic Canada. Scotsburn produces private label products for major retail customers that are distributed across Canada and internationally.
The Nova Scotia Jobs Fund pursues investment opportunities for communities in transition, industry sectors, regional support, small business programs, infrastructure and large industrial ventures.
FOR BROADCASE USE:
The province is helping a locally owned dairy company expand
its Truro facility, become more competitive, and protect and
create good jobs for Nova Scotians.
With a larger and more efficient facility, Scotsburn Dairy
Group will be able to secure new contracts and meet growing
demand for its ice cream products. The initial expansion will
create 40 new jobs and protect more than 500 jobs in Nova Scotia.
Truro-Bible Hill MLA Lenore Zann, on behalf of Economic and
Rural Development and Tourism Minister Graham Steele, says
Scotsburn wants to capitalize on growing demand for its ice
cream, but without the province’s support, it can be difficult to
make the upgrades needed so they can win new contracts and
continue to grow.
Source: Release
