Feds, province give $5M to P.E.I.'s bioscience sector

The federal and Prince Edward Island governments are spending more than $5 million to improve P.E.I.'s bioscience sector.

The funds will help build two initiatives: a biomanufacturing training facility in Charlottetown and a bioscience manufacturing incubator.

Bioscience employs more than 2,200 skilled workers on P.E.I. with 60 companies, such asPhytocultures which has helped develop a better balsam fir tree. The payroll for thesector is more than $100 million.

"These investments are creating more jobs for Islanders, providing training opportunities for students and industry workers, strengthening our workforce and ultimately growing the bioscience sector in Prince Edward Island." said Matthew MacKay, P.E.I.'s minister of economic growth.

The government said these projects will position the Island as a leading competitor in the market.

"Every single time that I get to represent the government or to have a role in one of these funding announcements that will bring high-paying, year-round, not seasonally dependent jobs to this place is a good day," said Charlottetown MP Sean Casey.

Creating more opportunities

The Canadian Alliance for Skills and Training in Life Sciences will be the first in P.E.I. to offer hands-on experience. It is expected to open its doors in September this year for students across the country.

Here's how the money breaks down: Atlantic Canada Opportunities Agency (ACOA) is giving $2,335,000 to the P.E.I. BioAlliance to establish thetraining facility in Charlottetown. The province's contribution is$800,000, which will buy equipment for it.

Ginette Petitpas Taylor, the minister responsible for ACOA, said the money will go to purchase equipment to be used in advanced training both for new students and experienced workers already in the industry.

ACOA will also provide $1.5 million to help design and build the Bioscience Manufacturing Incubator, whichwill help P.E.I. bioscience companiesscale up manufacturing and create moreopportunities to advance to commercial viability. The P.E.I. government will give $500,000 toward the incubator.

According to a news release, the incubator will containsix fully serviced, self-contained units to support pilot-scale manufacturing of bio-based products.

MacKay said Finance P.E.I. will also loan $4.5 million to the Charlottetown Area Development Corporation to help build the incubator.