$1.8M credit supports $46M investment and job creation<\/p>\n
Siwin Foods Ltd. has received just over $1.8 million through Alberta\u2019s Agri\u2011Processing Investment Tax Credit to support a major expansion of its operations.<\/p>\n
The expansion represents more than $46 million in investment and has created over 100 jobs, according to the Alberta government.<\/p>\n
Expanded production and new facility<\/p>\n
The project included an expansion of Siwin\u2019s existing processing facility for dumplings, potstickers and sausages, along with construction of a new facility to support products such as mini wontons and ginger beef.<\/p>\n
The province says the investment highlights continued interest from food processors choosing Alberta to grow their agri\u2011food businesses and expand into new markets.<\/p>\n
Province highlights investment climate<\/p>\n
\u201cThis investment by Siwin Foods is exactly what the Agri\u2011Processing Investment Tax Credit is designed to support \u2014 companies choosing Alberta to grow, create jobs, and expand their reach into new markets,\u201d said Agriculture and Irrigation Minister RJ Sigurdson.<\/p>\n
Sigurdson says the province\u2019s Agri Invest team provides hands\u2011on support to help companies navigate opportunities and scale with confidence.<\/p>\n
Production capacity increases sharply<\/p>\n
Siwin began Canadian operations in 2005, producing about 20,000 dumplings per hour. Following the expansion, the company is now producing 150,000 dumplings per hour and shipping products across North America and to Japan.<\/p>\n
\u201cThe Alberta Agri\u2011Processing Tax Credit provided Siwin Foods with the confidence to expand here, increasing our processing capacity by 100 per cent and adding more than 100 new positions,\u201d said Gord DeJong, vice\u2011president of Siwin Foods Ltd.<\/p>\n
How the tax credit works<\/p>\n
The Agri\u2011Processing Investment Tax Credit provides a 12 per cent non\u2011refundable, non\u2011transferable tax credit to businesses investing $10 million or more in value\u2011added agri\u2011processing projects.<\/p>\n
The program is open to food manufacturers and bio\u2011processors that add value to commodities such as grains or meat, or turn agricultural byproducts into new consumer or industrial goods. Up to $175 million in tax credits is available per project.<\/p>\n
About Siwin Foods<\/p>\n
Siwin produces ready\u2011to\u2011eat and easy\u2011to\u2011prepare foods, including dumplings, potstickers, sausage products, Filipino\u2011style meats and stir\u2011fry meats. Its products are sold through major retailers across Canada.<\/p>\n","protected":false},"excerpt":{"rendered":"$1.8M credit supports $46M investment and job creation Siwin Foods Ltd. has received just over $1.8 million through…\n","protected":false},"author":2,"featured_media":544870,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194294],"tags":[49,48,23752],"class_list":{"0":"post-546579","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-edmonton","8":"tag-ca","9":"tag-canada","10":"tag-edmonton"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/546579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=546579"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/546579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/544870"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=546579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=546579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=546579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}