December 11, 2009
Fort St. John, BC – A loan of nearly $1 million from the Northern Development Initiative Trust will help the North Pines Farmer’s Institute purchase and operate a grain elevator and rail head, creating jobs and supporting agriculture producers in the North Peace Region.
“Agriculture is the essence and the foundation of the community,” stated Larry Houley, President, North Pines Farmer’s Institute. “The ability to load out bulk commodities like grains, oilseeds, peas, and unload bulk fertilizer eliminates trucking costs to Dawson Creek and Rycroft, Alberta.”
The $965,416 loan, through Northern Development’s Economic Diversification Infrastructure Program, will assist in the purchase of land from BC Rail Properties as well as elevators, chemical and seed warehouses, and a grain dryer from Cargill Ltd.
“Northern Development is very pleased to support the North Pines Farmer’s Institute with a loan toward this important agricultural project in the North Peace Region,” said Northern Development Chair Evan Saugstad. “In addition to the jobs and revenues generated by the facility, the existing facilities form an agribusiness service cluster at this location that lowers the cost of business and creates opportunities for the agricultural community in the North Peace region to explore new markets such as biofuels.”
Northern Development funding is announced which will assist in the purchase a grain elevator and
rail head creating jobs and supporting agriculture producers in the North Peace Region.
(Photo courtesy of David Bell, Reporter-Photographer, Alaska Highway News)
The project will initially create three permanent and two seasonal jobs. The infrastructure created through this investment is crucial for the agricultural producers and the thousands of related spin-off jobs that support them.
“Helping projects like this get going is why I ran for public office,” said Peace River North MLA Pat Pimm. “The Province and Northern Development are working together to create jobs, strengthen our economy, and build a more vibrant agriculture industry in the North Peace.”
The fertile lands of the Peace River Region are an asset to the provincial economy and Northern Development is pleased to be a financing catalyst for the North Pines Farmer’s Institute to start this agribusiness venture.
Chief Executive Officer
Northern Development Initiative Trust
About Northern Development Initiative Trust
Northern Development Initiative Trust is an independent regional economic development corporation focused on stimulating economic growth and job creation in central and northern British Columbia. Over $85.8 million in funding has been committed to 471 projects with a total project value of over $842 million.
For more information about Northern Development Initiative Trust, visit www.northerndevelopment.bc.ca