Peat Moss Manufacturing Company Makes Room for Future Growth
The Honourable Serge Cormier, Parliamentary Secretary to the Minister of Fisheries, Oceans, and the Canadian Coast Guard and Member of Parliament for Acadie – Bathurst, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA); and the Honourable Brian Gallant, Premier of New Brunswick, today joined Zo?l Gautreau, executive vice-president of Jiffy Products (N.B.) Ltd to make the funding announcement.
The Honourable Francine Landry, Minister of Economic Development, Minister responsible for La Francophonie and Minister responsible for Opportunities NB; Wilfred Roussel, MLA for Shippagan-Lam?que-Miscou and Stephen Lund, CEO of Opportunities NB also took part in today’s event.
The \\$11.8 million expansion and relocation project will enable Jiffy to take over the former Atlantic Yarn building, which is more than double the size of its current operation in Shippagan. The larger building will allow the company to install their production lines more efficiently, automatically increasing productivity and reducing overall operating costs. The new facility also gives the company the additional space it requires to ensure New Brunswick is a hub for Jiffy’s North American growth objectives.
The Government of Canada, through ACOA’s Business Development Program, is providing a repayable contribution of \\$2.3 million towards the project while the Province of New Brunswick’s Regional Development Corporation is providing \\$1.4 million in assistance through the Northern New Brunswick Economic Development and Innovation Fund. Opportunities NB is also providing a \\$600,000 non-repayable contribution in support of capital expenditures along with a \\$500,000 forgivable loan in support of the creation of up to 50 jobs.
This project builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, which will provide strategic investments in resource-based industries to stimulate the region’s economy and increase job opportunities for Atlantic Canadians.
“As the Government of Canada focuses on growing the economy and strengthening the middle class, we are pleased to support Jiffy Products (N.B.) Ltd with a project that will create opportunities to do just that. This is a great example of one of the strategic investments we are making in collaboration with the Province of New Brunswick, that are helping to position this region for long-term economic growth.”
- Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The harnessing of natural resources by small and medium-sized companies such as Jiffy Products (N.B.) Ltd is the backbone of the economy in the Acadian Peninsula. That is why we are pleased to support projects like this one that will help position this significant employer for future growth, which could lead to more jobs and create additional economic benefits for the rural communities of this region.”
- Honourable Serge Cormier, Parliamentary Secretary to the Minister of Fisheries, Oceans, and the Canadian Coast Guard and MP for Acadie – Bathurst
“We know how important creating jobs and growing the economy are to New Brunswickers and their families. This announcement demonstrates our government’s effort to get things done to grow the economy and create jobs here at home.”
- Honourable Brian Gallant, Premier of New Brunswick
“After 40 years in New Brunswick, this announcement enables Jiffy to bring our company to a new level. The extra space available will allow us to convert our research and development effort into one facility within the same property here in the Acadian Peninsula. This would have not happened without the financial support of the federal and provincial governments.”
- Zo?l Gautreau, Executive Vice-President of Jiffy Products (N.B.) Ltd
• Jiffy Products (N.B.) Ltd has evolved from a small plant operating four machines in 1976 to a multi-operation plant that makes plastic products and value-added products from peat, and harvests its own peat to supply the factory. The company also operates a state-of-the-art machine shop to fabricate its own equipment.
• Jiffy Products, headquartered in Norway, is an industry leader in the peat extraction sector. The company manufactures a line of propagation, hydroponic and growing systems, along with substrates used for the horticultural industry.
• In February, Jiffy Products (N.B.) Ltd received a \\$906,750 investment through ACOA’s Atlantic Innovation Fund to conduct research and development aimed at improving the biophysical and chemical properties of peat for the creation of four new competitive products.