Government grants to help fund 2 Alberta hemp-processing facilities
Global News
The Alberta government has awarded two grants, in partnership with the federal government, in hopes of growing the province's hemp industry.
The Alberta government has awarded two grants, in partnership with the federal government, in hopes of growing the province’s hemp industry.
A total of $900,000 has been awarded through the Emerging Opportunities program under the Canadian Agricultural Partnership. The partnership is a five-year, $3-billion commitment by the federal, provincial and territorial governments that supports Canada’s agriculture, agri-food and agri-products sectors.
INCA Renewtech, a globally recognized hemp manufacturing company, will receive up to $400,000 to build a new $72-million hemp processing facility in Vegreville, Alta.
The province said the facility will create demand for 54,000 tonnes of help biomass per year, adding $270 million in additional farm income over 25 years.
The project is also slated to create more than 70 new manufacturing jobs, by purchasing and processing hemp in Alberta.
“INCA Renewtech is delighted to join a talented consortium from agriculture, industry and the public sector to create the Alberta hemp supercluster,” said David Saltman, INCA Renewtech CEO.
“The governments of Canada and Alberta have been generous in supporting the project and we very much look forward to working with them to make the hemp supercluster an important part of the Alberta economy.”
Blue Sky Hemp Ventures will receive a grant of $500,000 to advance a proposed $75-million hemp food processing facility in Alberta.
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