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The federal government is providing more than $6.9 million to 17 businesses and organizations across P.E.I. to help them respond to the impact of U.S. tariffs.
In a news release Thursday, the federal government said the non-repayable funding comes through the Regional Tariff Response Initiative, which is delivered by the Atlantic Canada Opportunities Agency in the Atlantic provinces.
The initiative is intended to help businesses improve productivity, strengthen supply chains and reach new markets, the release said.
Among those receiving support is the P.E.I. Bag Company, which employs 65 Islanders and manufactures bags used to package everyday products. The company is receiving more than $260,000 for new manufacturing equipment and digital technologies, according to the release.
The three largest grants are going to Trout River Industries at $987,625, P.E.I. Brewing Company at $790,000 and Somru BioScience Inc. at $747,500.
“The $6.9 million in direct support we’re announcing today will help P.E.I. Bag Co. and 16 other businesses and organizations across the Island, with more to come across Atlantic Canada,” the minister responsible for ACOA, Sean Fraser, was quoted as saying in the release.
“Our government will continue to act quickly so workers and businesses affected by these tariffs get the support they need.”
The P.E.I. government also recently announced $12.5 million in support for Island businesses affected by U.S. tariffs.
Ottawa says the new federal funding is part of a broader $7.5-billion package of measures to support Canadian workers and businesses affected by the tariffs.