Infrastructure deal paves way for largest private investment in Lethbridge history
Expansion of Sherring Industrial Park allows for Cavendish Farms to invest $350M in processing plant
Lethbridge and the province announced an infrastructure deal on Monday that's no small potatoes for the small southern Alberta city.
The deal will see a "major" expansion of the Sherring Industrial Park on the city's northern edge, which in turn will allow Cavendish Farms to expand its business "by investing at least $350 million for the construction of a new, state-of-the-art frozen potato processing plant," according to a press release.
That's the biggest private investment in the city's history.
'Economic growth and diversification
"Our government is working with municipalities across Alberta to provide the right conditions for jobs, economic growth and diversification," said Agriculture and Forestry Minister Oneil Carlier in the release.
"This historic private investment will create good jobs and opportunities for local farmers and it will build on Lethbridge's stellar reputation as a national hub of agri-food business innovation."
The nuts and bolts of the infrastructure agreement between the city and the province have yet to be finalized, but are expected to wrap up in the spring of 2017.
"It is anticipated that the investment announced today will create demand for an additional 3,640 hectares of potatoes, which will create greater opportunities for local producers and will increase the province's value-added food processing capabilities," reads the release.
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