Business
Innovation, Trade and Rural
Development
October 8, 2010
New Operation to Export Biological Products
for Agricultural Industry
ICUS, a manufacturer of
environmentally-friendly bio-pesticides and bio-fertilizers used in
agriculture, will soon open a production facility in Donovan's Business
Park in Mount Pearl with the assistance of a $580,000 investment from
the Provincial Government.
"This venture will see the creation of a new
commercial operation in our province to produce and export leading-edge
biological products for the agricultural industry," said the Honourable
Ross Wiseman, Minister of Business. "Our government's investment will
help ICUS start up, enter production, and capitalize on the growing
demand for these advanced, natural products."
An approximately 10,000 square foot
microbial fermentation facility is nearing completion and ICUS plans to
be in operation later this fall. It will produce bio-fungicides,
designed to protect crops from diseases, and bio-fertilizers, or
inoculants, which promote plant health and growth through the use of
naturally occurring bacteria and fungi. These products, commonly called
microbials, help increase crop yield, control disease, and improve plant
health, while reducing chemical requirements, which are important
economic and environmental issues in today's global agricultural
industry. Demand for biological products in agriculture is rising,
largely because industry preferences continue to move towards reducing
dependence on chemicals and increasing the use of
environmentally-friendly alternatives.
The Department of Business is providing a
$500,000 loan, while the Department of Innovation, Trade and Rural
Development is contributing $80,000 towards workforce development
initiatives.
"Within the rapidly growing market for
environmentally-friendly products there are considerable opportunities
for companies such as ICUS," said the Honourable Shawn Skinner, Minister
of Innovation, Trade and Rural Development. "To ensure that the company
is best-positioned to capitalize on emerging opportunities, it is
important that it effectively train employees and make the investments
it needs to add the necessary levels of expertise."
The company is concentrating initially on its
U.S. customer base, with the potential to expand to other Canadian and
international markets. To start, its primary products will be inoculants
for soybeans, wheat and canola.
"Microbials are becoming very important as a
management tool in large-scale commercial farming," said ICUS President
Gordon Genge. "Advances in fermentation techniques and superior quality
control procedures means that our biological products can compete head
to head with chemical fertilizers and pesticides, especially now that
consumers and growers alike are demanding safer food products grown in a
sustainable manner. ICUS is positioned to become one of the top
companies in this rapidly evolving market."
An initial workforce of approximately six
people is expected, growing to a targeted 18 over the next several
years. Through the Workplace Skills Enhancement Program, administered by
the Department of Innovation, Trade and Rural Development, the company
will deliver theoretical and practical training programs to increase the
knowledge of existing employees.
"Welcoming innovative business opportunities
to our communities is vital if we are to continue to grow and diversify
our economy," said Topsail MHA Paul Davis. "While contributing to the
province's economy and workforce, this new production facility will also
be responding to the agricultural industry's growing demand for
environmentally-friendly products."
The Provincial Government's contributions are
made via the Business Attraction Fund and the Workplace Skills
Enhancement Program. The Business Attraction Fund provides customized
financial assistance for start up or expansion activities by investors
external to the province. Budget 2010:
The Right Investments — for
Our Children and Our Future
allocated a total of $29 million under
the fund this fiscal year.
"Our government is taking steps to create the
right environment for business investment and expansion," said Minister
Wiseman. "We will continue to support opportunities that diversify
Newfoundland and Labrador's economy by attracting new business and
building innovative industries."
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Media contacts:
Luke Joyce
Director of Communications
Department of Business
709-729-7628, 725-4165
lukejoyce@gov.nl.ca
|
Scott Barfoot
Director of Communications
Department of Innovation, Trade and Rural Development
709-729-4570, 690-6290
scottbarfoot@gov.nl.ca
|
Donna Ivey
Communications Manager
Government Members Office
709-729-0898, 697-1424
donnaivey@gov.nl.ca |
Gordon Genge
President
ICUS
709-351-0905
info@icus.ca |
2010 10 08
11:50 a.m.
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