Atlantic New Technology Development’s plans for a nutraceutical processing plant in Truro using local fruit crops and dairy products will get some provincial backing.
The Nova Scotia government on Friday pledged a payroll rebate of up to $133,845 over five years to help the company create up to 20 jobs at its plant.
The funding is paid out in increments based on the approved company meeting its annual hiring targets.
The company’s first venture in the region is to be a research and processing facility using blueberries, cranberries, sea cucumbers, seaweed, starfish, flax seed, mussel and lobster shells, and dairy ingredients from local suppliers, the province said.
Some of the company’s products are to include medicinal supplements (a.k.a. nutraceuticals), such as antioxidants extracted from berries.
“The demand in China for a made-in-Canada brand has never been stronger,” said company president Grace Chum in the province’s release. “The nutraceutical market continues to grow, making Nova Scotia products like cranberries, blueberries, and even lobster shells, much more valuable overseas.”
The company will be based in Truro’s AgriTech Park, giving it access to resources from the Nova Scotia Agricultural College, the province said.
The funding will come through Nova Scotia Business Inc., a provincial business development agency.