ACOA announces loan for MacDougall Steel Erectors
The federal government has approved a $1.5-million loan to help MacDougall Steel Erectors Inc. repurpose the former McCain french fry plant in Albany.
The money is coming through the Atlantic Canada Opportunities Agency’s Business Development Program. MacDougall Steel announced in January that it would be buying the former McCain property, stating that it would allow for an expanded range of product offerings and to take on larger contracts of existing products.
“We’re grateful that, with this repayable support, we are able to bring in an exciting next phase for the company. Repurposing an unused facility in the area with new equipment will allow us to increase and diversify our exports, while still remaining based in the community.
With this growth at MacDougall Steel Erectors, we are pleased to introduce new skilled employment opportunities for people in our region,” said Ron MacDougall, president and CEO of the company. MacDougall Steel Erectors currently employs about 100 people at its production facility in the Borden-Carleton Industrial Park.
It expects to add more than 120 new jobs at the former McCain site once it is in full production. The two facilities are about five kilometres away from each other and are expected to work in tandem.
The provincial government has also contributed to this project, giving the company a $3.5 million loan and access to up to $880,000 in labour rebates.
The total renovation project is expected to cost $7 million.