"Plant based protein is a $13 billion
market of which Canada currently has
a minimal share," Hart explained. "We
need to seize this opportunity before
our compe tors do."
The federal funding supplements
roughly $400 million of cash, in-kind
commitments and venture capital
support that PIC has already secured
from its members.
According to an independent study,
this ini a ve is es mated to ini ally
generate more than $700 million
Representa ves of the winning Agricultural Supercluster proposal, Protein Industries Canada, with Innova on, Science and Economic
Development Minister Navdeep Bains, celebra ng the announcement in O awa.
in new commercial crop processing
ac vity and billions of dollars in
incremental GDP over the next decade,
together with crea ng approximately
4,700 new direct jobs and thousands of
indirect jobs as the mul plier effect in
the economy sets in.
"This has huge implica ons for
the western Canadian economy,"
Hart con nued. "Farmers, service
companies, value-added processors,
academic ins tu ons, consumers and
through spinoff benefits, everyone on
the prairies and throughout Canada
will stand to benefit."
Protein Industries Canada and its
Alberta partner, Plant Protein Alliance
of Alberta, are currently working out
implementa on details. Work with
developing commercial ac vity has
been underway for some me and
with this announcement this will be
ramped up with roll out this summer.
For more informa on about PIC, visit
www.proteinindustriescanada.ca.
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