Provincial and federal loans will allow the Island’s oldest brewery to pursue renovations that will allow it to increase production, hire more staff and pursue export markets.
The $1.2 million in lending is aimed at helping PEI Brewing Company increase its production and grow its presence among off-Island beer customers.
PEI Brewing Company president Jeff Squires said they’ll add 1,000 square feet to their Kensington Road facilities, including two new 15,000 litre tanks, helping it become a prominent exporter from PEI.
Three news jobs will be created with the expansion, bringing the number of brewing company employees to 35.
ACOA is providing $500,000 in loans while PEI’s portion is $754,132.