Government of Canada invests $9.4 million to drive innovation and economic growth in Surrey
PacifiCan funding will help three local businesses expand operations, create quality jobs and reach new markets
SURREY, BC, Oct. 25, 2024 /CNW/ - Surrey is one of British Columbia's fastest growing cities, home to innovative businesses and ambitious entrepreneurs with exciting plans for the future. PacifiCan will soon open its headquarters in Surrey, expanding the agency's presence and impact in this growing economic hub and the broader Mainland Southwest Region. PacifiCan is committed to partnering with businesses and community leaders in the Fraser Valley and across B.C. to realize their ambitions.
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $9.4 million in PacifiCan funding to help three Surrey-based businesses grow locally and compete globally.
Minister Sajjan made the announcement while visiting Nanak Foods Inc., an innovative food manufacturer receiving $5 million in funding through PacifiCan's Business Scale-up and Productivity (BSP) program. Nanak is North America's largest and leading manufacturer of specialty dairy-based, South Asian-inspired foods. Nanak's paneer cheese product incorporates whole milk from B.C. cows, benefiting local dairy farmers.
PacifiCan's investment will allow the company to increase production of paneer cheese by expanding its operations with new equipment. The funding announced today will allow Nanak to scale-up locally, create jobs and accelerate global sales of its signature product.
Minister Sajjan also announced funding for two other Surrey-based businesses, one through PacifiCan's BSP and the other through the Jobs and Growth Fund. Dr. Ma's Laboratories, a natural health product manufacturer, is receiving over $3.1 million in funding to scale up operations and create new jobs. LED Smart is receiving over $1.2 million to continue to innovate in the design of its horticulture lighting system and increase production to meet global demand.
More details about the projects and companies receiving funding can be found in the backgrounder below.
The investments announced today are expected to help create more than 190 jobs, grow the Surrey and regional economy, and bring more made-in-B.C. products to global markets.
Quotes
"Amazing things are happening in Surrey. Innovative companies, such as Nanak Foods, are developing products that are in demand around the world, and the Government of Canada is proud to support their business growth. PacifiCan's investment in Surrey means that local companies can scale up at home, creating cutting-edge innovation and quality jobs right here in the Fraser Valley."
-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
"Surrey is the fastest growing city in British Columbia. Local companies are rapidly growing to keep up with market demand as well as creating high quality jobs for Surrey residents. Today's investment of $9.4 million in PacifiCan funding recognizes the economic growth and resiliency Surrey businesses have as we move British Columbia and Canada forward."
-Randeep Sarai, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for Surrey Centre
"Today's investment is a prime example of how Surrey is at the forefront of being home to innovative entrepreneurs in diverse sectors who are contributing to British Columbia's vibrant economy. Streams like Business Scale Up and Productivity allow companies to access capital to rapidly grow and keep up with market demand. The future of Surrey entrepreneurs and manufactures is bright, and we are here to be a part of this evolution."
-Sukh Dhaliwal, Member of Parliament for Surrey—Newton
"We are incredibly grateful for the support from PacifiCan, which enables us to move forward with the construction of our new processing facility. This funding is not only an investment in our growth but also a testament to the shared commitment to creating jobs, fostering innovation, and strengthening our community. With PacifiCan's backing, we are confident that this project will drive significant growth and enable us to meet the evolving needs of our clients and partners."
-Gurpreet Arneja, President, Nanak Foods Inc.
Quick Facts
- PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout our province.
- The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.
- The Jobs and Growth Fund helps job creators and the organizations that support them, to future-proof their businesses. This includes building resiliency and growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness and creating jobs across British Columbia.
- Surrey is on its way to becoming the most populous city in the province, with a projected population of 783,690 by 2041.
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Backgrounder
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $9.4 million in PacifiCan funding to help three Surrey-based businesses grow locally and compete globally.
The projects announced today are:
Business Scale-Up and Productivity Program
Dr. Ma's Laboratories
$3,166,000
Funding will enable Dr. Ma's Laboratories, a natural health product manufacturer, to scale up its operations by installing new automated equipment and hiring more staff. Dr. Ma's provides natural health brands with the production space and in-house resources required to create their unique vitamins and supplements. From product research to manufacturing capabilities to packaging, Dr. Ma's provides brands with end-to-end production services. PacifiCan's investment will allow the company to grow local production and meet global demand for natural health goods.
Nanak Foods Inc.
$5,000,000
Funding will allow Nanak Foods Inc. to increase production of its paneer cheese product by expanding its operations with new equipment. The company is North America's largest and leading manufacturer of specialty dairy-based, South Asian-inspired foods. Nanak's paneer cheese product incorporates whole milk from B.C. cows, benefiting local dairy farmers. PacifiCan's investment will help Nanak scale-up locally, create jobs and accelerate global sales of its signature product.
Jobs and Growth Fund
LED Smart
$1,275,000
Funding will help LED Smart continue to innovate in the design of its horticulture lighting system, Grow3, and increase production to meet growing global demand. This energy-efficient technology replicates sunlight to produce high-quality crops in greenhouses and vertical farms. PacifiCan's investment will allow LED Smart to enhance its software, adapt Grow3 for mass production and create high quality jobs in British Columbia.
SOURCE Pacific Economic Development Canada
Contacts: Haley Hodgson, Senior Communications Advisor, Office of the Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada, haley.hodgson@kpc-cpr.gc.ca; Lynsey Brothers, A/Communications Manager, PacifiCan, lynsey.brothers@pacifican.gc.ca
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