Federal, provincial governments invest $25M into agriculture tech initiative

A joint investment from the governments of Canada and Ontario is bringing a $25 million boost to production capacity and energy efficiency in the agriculture sector.

The announcement came from Lisa Thompson, Ontario Minister of Agriculture, Food and Rural Affairs in Waterdown Monday morning.

Through the Agri-Tech Innovation Initiative, funding will be made available to eligible farm and food processing businesses to aid in investments in innovative technology, equipment or process all to expand production capacity.

The investment is set to support the objectives in the Grow Ontario Strategy of increasing the production of food grown and prepared in the province by 30 per cent by 2032.

“Through the Sustainable CAP program, we’re supporting innovation and helping farmers and producers adopt new technologies,” said the Honourable Lawrence MacAulay, federal minister of Agriculture and Agri-Food.

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“By working with the province on these initiatives, we can help the sector enhance their production capacity while also improving energy efficiency to create a more resilient future for agriculture in Ontario.”

Projects supported by the initiative will support the allocation of innovative equipment and technology, along with enhancing cyber security in the sector.

Innovative technology and equipment projects, up to $100,000 will be eligible for up to 50 per cent cost-share with the initiative.

In addition, larger projects will be eligible for a 35 per cent cost-share, with a ceiling of $100,000 in funding.

Applications will open up to those interested on Feb. 15, 2024. Further details about the application process will be made available online prior to its opening.

Last year, the food and agriculture industry in Ontario contributed $48.8 billion gross domestic product (GDP) to the provincial economy, representing 6.3% of Ontario’s total GDP.