Investing in London’s Agri-food Sector

London is home to a strong and growing agri-food sector, and strengthening this industry means creating new opportunities for local businesses, workers and communities.

On September 14, I joined the Honourable Heath MacDonald, Minister of Agriculture and Agri-Food, Justine Hendricks, President and CEO of Farm Credit Canada, and Arlene Dickinson of Velocity Agri-Capital Partners in London to announce new investments that will help Canadian agri-food businesses grow and expand.

Farm Credit Canada is launching a $1-billion Agri-food Project Finance Fund to help finance mid-market agri-food infrastructure projects across Canada. The fund will help address financing gaps, support the development of critical infrastructure and technology, and increase Canada’s domestic food-processing capacity.

The announcement also includes $150 million for Velocity Agri-Capital Partners through FCC Capital’s $2-billion investment commitment. The investment will focus on opportunities in the agri-food and agri-tech sectors and support businesses across the value chain.

Supporting Growth Here at Home

For London, these investments are particularly meaningful. Our community is home to businesses and organizations working across agriculture, food processing, manufacturing, research and innovation.

From Arva Flour Mills to businesses throughout London and the surrounding region, our agri-food sector contributes to our local economy while helping connect Canadian producers with markets at home and around the world.

The new financing will help businesses pursue capital-intensive projects, expand processing capacity and bring new technologies and ideas to market. The first phase of expressions of interest for the Agri-food Project Finance Fund launched on September 14.

Investing in food processing and agri-food infrastructure also means keeping more value within Canada. By supporting Canadian businesses as they grow, we can strengthen domestic supply chains, create good jobs and build greater resilience across our food system.

Building a Stronger Food System

Canada’s agriculture and agri-food sector is an important part of our economy, and there are significant opportunities to grow the value we create here at home.

The new Agri-food Project Finance Fund is part of the federal government’s broader National Food Security Strategy, which is backed by more than $3 billion in investments over 10 years. The strategy includes measures to strengthen food production and processing, support innovation and improve the resilience of Canada’s food system.

For London West, supporting these investments means supporting the entrepreneurs, producers, processors and workers who are helping build our local economy.

I will continue working with businesses and organizations in London West to ensure that our community’s priorities are heard and that London is positioned to take advantage of opportunities to grow, innovate and create good jobs.