Agriculture and Agri-Food Canada

Agriculture and Agri-Food Canada

October 25, 2005 16:00 ET

AAFC: Producer Access to Equity Loan Program for Expanding Canadian Slaughter Capacity

OTTAWA, ONTARIO--(CCNMatthews - Oct. 25, 2005) - Canadian livestock producers wanting to invest in new or expanding federally regulated and inspected ruminant slaughter facilities can now apply for additional assistance from the Government of Canada.

Further to the June 29, 2005 announcement to support transformation of the Canadian cattle and other ruminants industry, Agriculture and Agri-Food Minister Andy Mitchell today announced details of the Ruminant Slaughter Equity Assistance Program.

"This program allows producers to make a significant investment in their own industry," said Minister Mitchell. "It is an important step towards ensuring Canada has the slaughter capacity it needs in today's trading environment, reducing regional disparities in slaughter capacity, and improving access to slaughter facilities for older animals and other ruminants such as sheep and bison."

Under the Equity Assistance Program, $10 million is available to contribute to equity investments by eligible producers to help increase Canada's slaughter capacity of federally regulated and inspected ruminant slaughter plants.

The Equity Assistance Program requires a minimum investment per producer of $1,000, triggering a government contribution of $500. Agriculture and Agri-Food Canada will match up to one-half of an individual producer's investment to a maximum government contribution of $20,000. The maximum government contribution available for any slaughter facility project is $5 million.

Farm Credit Canada is assisting Agriculture and Agri-Food Canada in the delivery of the program. Producers may apply for the program through the slaughter facility in which they are investing.
For more information on the Ruminant Slaughter Equity Assistance Program, visit Agriculture and Agri-Food Canada's Web site at http://www.agr.gc.ca/ren/ruminant/index_e.php, contact the slaughter plant you wish to invest in, or call Farm Credit Canada at 1-866-514-8419.

Contact Information

  • Agriculture and Agri-Food Canada
    Media Relations
    (613) 759-7972 or 1-866-345-7972
    or
    Agriculture and Agri-Food Canada
    Minister's Office
    Matt Tolley
    (613) 759-1059