The Saskatchewan government will give more than $4 million to the province’s agricultural biotechnology industry over the next four years.
A new funding contract with Ag-West Biotech, Inc. of Saskatoon was announced last week. The province will contribute $1.1 million annually to the non-profit corporation.
Agriculture minister Eric Upshall said the commitment means Saskatchewan will continue to be a world leader in industry development.
“Close to 50 percent of all agricultural biotechnology companies in Canada are either located or have a strong presence in Saskatchewan,” Upshall said, adding that Ag-West has played a key role in the expansion of the industry.
About 30 companies now operate in the province, with sales of more than $42.5 million.
Peter McCann, Ag-West president, said biotechnology research is expensive, because some projects span as long as 10 years and product must go through a rigorous regulatory approval process. Ongoing support from the government is important for continuity.
“Government money is seed money to get us up and running,” he said.
McCann said Ag-West Biotech is working with several manufacturers hoping to attract one to Saskatoon and its Innovation Place.
