Canadian Dairy Commission

Canadian Dairy Commission

June 09, 2009 12:14 ET

Fund Helps Develop New Dairy and Food Products

OTTAWA, ONTARIO--(Marketwire - June 9, 2009) - The Canadian Dairy Commission (CDC) announced today the launch of its new Matching Investment Fund. This fund is designed to encourage growth and innovation in the manufacture and use of Canadian dairy products and ingredients.

"This matching fund is a concrete measure to encourage new product development by Canadian companies," said federal Agriculture Minister Gerry Ritz. "This smart investment will increase demand for dairy and provide new and innovative products for consumers."

The CDC has committed $6 million over 3 years for product development activities such as consultations with experts, product analysis, trials and technology transfer, industrial scale tests, retrofitting of facilities, sample preparation, and packaging techniques. The maximum CDC contribution per project will be $50,000 for consultations and $250,000 for product development. Each of these dollars will be matched by the participating companies, either in cash or in kind.

The initiative is in line with Agriculture and Agri-Food Canada's Growing Forward program as it shares its objectives of innovation for the benefit of the agri-food industry.

The Canadian Dairy Commission, a federal Crown corporation created in 1966, is a key facilitator within the Canadian dairy sector. The CDC helps design, implement, and administer policies and programs to address dairy producer and processor needs. It is mandated to provide efficient dairy producers with the opportunity to get a fair return on their labour and investment, and to ensure that Canadian consumers are provided with adequate supplies of quality dairy products.

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