In Alberta, The Little Potato Company has embarked on a $39.5 million venture in Nisku, aiming to amplify its processing capabilities and output of seasoned, ready-to-cook potatoes. This initiative is poised to bolster its processing volume by 100%, enhancing the availability of its products for roasting, microwaving, or grilling. Alberta's Agri-Processing Investment Tax Credit program, designed to stimulate investment in the food and ag processing sector, has acknowledged the project, granting a provisional tax credit of approximately $1.3 million to the company. RJ Sigurdson, the Minister of Agriculture and Irrigation, highlighted the program's intent to foster economic growth and job creation within the province.
Alberta, leading in potato production nationally, sees this industry as a significant economic contributor, with an annual impact exceeding $2 billion. The tax credit initiative requires a minimum investment of $10 million towards enhancing agri-processing facilities, offering a 12% non-refundable credit on eligible expenditures. The Little Potato Company's new facility, spanning 240,000 square feet and employing 224 locals, is set to process around 125-million pounds of potatoes, marking a substantial increase from its previous capacity.
Source: rdnewsnow.com