Important Rural Agriculture Business Receives Government Investment

first_imgA rural poultry processing plant that has been supporting the growth of Nova Scotia’s agricultural industry for the past 65 years, will receive an investment from the province of Nova Scotia for working capital. A $3.5-million loan for ACA Co-operative Ltd. in New Minas, through the Department of Economic Development’s Industrial Expansion Fund, will help the company maintain 650 jobs with an annual payroll that exceeds $25 million annually. ACA also creates almost as many spin-off jobs. “This sole poultry processor for Nova Scotia has grown significantly over the years and continues to seek and develop new markets for its quality products,” said Economic Development Minster Angus MacIsaac. “This investment further demonstrates the province’s commitment to supporting economic growth in rural areas of the province and maintaining important jobs.” Since 1943, ACA Co-operative Ltd. has grown to include seven divisions including eggs, feed, hatchery, poultry, retail farm equipment and processing. The company operates a processing poultry meat operation, breeder barns for producing selected genetic broiler chicken crosses, chick hatchery, feed mill, table egg division and grading facility, a retail division for farm furnace and diesel fuel, farm equipment division, and an outlet store. “ACA is an integral part of Nova Scotia’s agricultural industry, which generates about $450 million in the province,” said acting Agriculture Minister, Ron Chisholm. “Along with chicken, it processes nearly all of the turkeys available in Nova Scotia and 25 per cent of our eggs, offering people the opportunity to buy local food products.” The company’s major customers include Sobeys, Co-op Atlantic, Sysco Food Service and commodity markets in Ontario and Quebec. Its annual sales exceed $110 million. “We take great pride in producing top-quality products for our customers and playing an important role in our industry,” said Sue Payne, chief executive officer of ACA Co-operative Ltd. “With this investment, we will continue to contribute to the industry and support our community.” The Industrial Expansion Fund is one method used by the government of Nova Scotia to support economic development in the province. The Industrial Expansion Fund has considerable flexibility in the amount and type of funding it can provide.last_img read more