by Ottawa has announced a total of $695,000 it says will help four local businesses modernize and expand their operations.
$450,000 of the funding is going to McFadgen’s Bakery in Glace Bay, with $100,000 for Louisbourg Seafoods, $95,000 for Alter Biota, Incorporated and $50,000 for Phycus Biotechnologies.
The money comes from the federal government’s Jobs and Growth Fund that provides funding through regional development agencies to help the economy recover from the effects of the COVID-19 pandemic.
ACOA says the projects getting funding today are expected to create up to seven new jobs and maintain 163.