Province opens $2M fund for Borden-Carleton, Albany area

The province has announced the details of a $2 million fund set up by McCain Foods to be administered through Innovation PEIfor the Borden-Carleton and Albany area, to support local businesses.

• MacDougall Steel Erectors purchases former McCain french fry plant in Borden-Carleton
• McCain Foods closing Borden-Carleton french fry plant

Applications to the McCain Foods Adjustment Fund opened Monday. The fund was established by McCainwhen it closed its french fry plant in the area in 2014, and said it was to be administered by the province.

"I want to thank theMcCainsfor doing their part to ease some of the hardships by the closure of this plant, caused to many Islanders," saidHeath MacDonald, P.E.I. Minister of Economic Development and Tourism, regarding the establishment of the fund.

The fund is open to businesses, community, and non-profit organizations that meet the province's criteria of quality employment.

The Town of Borden-Carleton has also beenlooking for waysto stimulate economic development in the community and will likely want to tap into thefund.

MacDonald said the fund should provide a much needed boost into the local economy.

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