Meat Process Plant Gets Funding

By 250 News

Northern Initiatives Trust has  approved funding for its 100th project.

The funding is for Northwest Premium Meats Co-op in Telkwa.

The Northern Trust is providing a $433,000 loan guarantee to facilitate local financing by agricultural producers, investors and the Bulkley Valley Credit Union for the $1.6-million project.

"This project demonstrates the power of the regional trust model, which helps communities build their own economic futures," said Northern Trust  Chair, Bruce Sutherland. "The Northern Trust is working with communities to diversify and grow the regional economy, and with local ranchers to build this facility that will assist them to meet new provincial meat regulations."

The Telkwa facility will handle 3,000 animals per year starting in early 2008, with chill coolers, meat processing and custom packaging for local
restaurants, retail outlets and consumers. The plant will create 13 jobs initially, with two more expected in the next two years.

In the two years since the Northern Trust's inception, the board, assisted by a small staff group, has committed over $33 million in loan and grant funding to economic diversification projects in central and northern B.C. with a total value of $208 million.

Email | Print | Facebook | Twitter | Digg | Del.icio.us