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Prime Minister Stephen Harper speaks during an announcement in Summerside, Prince Edward Island on Tuesday, May 14, 2013. He promises more than $7.7 million for three Charlottetown firms.
Prime Minister Stephen Harper went into the only riding held by a Conservative in Prince Edward Island on Tuesday to announce more than $7.7 million in funding for three companies – all based in the Liberal riding of Charlottetown.
Harper made the announcement in Summerside, flanked by Conservative MP Gail Shea.
However, none of the money was earmarked for Summerside or Egmont.
Three companies received funding under the Atlantic Innovation Fund, which is supposed to promote jobs, growth and long-term prosperity.
“Our government is committed to helping innovators in Atlantic Canada succeed,” the prime minister said.
“The support being announced today will help innovative companies in Prince Edward Island bring their cutting-edge products, processes, technologies and services to market, generating jobs and economic growth.”
The funding will help BioVectra Inc. of Charlottetown. develop two generic drugs employing sustained-release delivery technology.
BioVectra will receive funding of $2,958,000.
Delivra Inc. of Charlottetown will use the money to develop more effective topical creams to relieve joint pain and improve circulation.
Delivra will receive $2,860,000.
Funding will also help Island Abbey Foods research and develop ways to use innovative dehydrated honey to deliver a broad range of therapeutic products.
Island Abbey Foods will get $1,920,000