P.E.I. government contributes to 2nd expansion for beer company
Company has received about $2M in government loans since last summer
For the second time in less than a year the P.E.I. government is providing a loan to the P.E.I. Brewing Company to fund an expansion.
Company president Jeff Squires said the expansion will allow the P.E.I. Brewing Company to meet a growing demand for its products.
"The increasing demand for P.E.I. beer products across the country is another example of the increasingly excellent reputation of the food and drink produced right here on Prince Edward Island," said Squires in a news release.
The province is providing a loan of $746,366 to the company. The money will go to new brewing and packaging equipment.
Last summer the province participated in a joint funding arrangement with the Atlantic Canada Opportunities Agency for Phase 1 of the expansion. It provided a $754,132 loan, along with a $500,000 loan from ACOA.
"P.E.I. Brewing Company is a significant exporter of craft brew here on the Island," said Economic Development Minister Chris Palmer in the release.
The expansion will allow the company's products to reach an even wider audience across the country, he said.
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With files from Angela Walker