Province Helps Build Future For Innovation Industry

The province is helping to create 520 jobs, many in rural Nova Scotia, thanks to investments in a world-class company that specializes in the innovative use of fish and seaweed extracts.

Ocean Nutrition Canada will build a $21.5-million manufacturing facility in Dartmouth with provincial support, as part of phase one of the company's expansion in Nova Scotia.

"We are helping to create new opportunities for Nova Scotians and new opportunities for our province's life sciences industry," Premier John Hamm said today, Aug. 30. "Our support means a world-class company, with its roots in Nova Scotia, is going to be exporting around the world with products made right here."

"This deal means jobs and opportunities in rural and urban Nova Scotia and it means Ocean Nutrition is staying here, where the company belongs," said Ernest Fage, Minister of Economic Development. "We expect additional spinoffs from this announcement, including increased R&D activity in the life sciences industry in Nova Scotia."

"This is an exciting day for Ocean Nutrition Canada and Nova Scotia," said Robert Orr, president of Ocean Nutrition Canada. "What we are announcing today is a major step forward in the continuing growth of the life sciences sector in our province."

Ocean Nutrition Canada's new production facility will be a 40,000-square-foot plant in Woodside Knowledge Park. The plan will allow the company to micro-encapsulate its Omega 3 fish-oil product, which is used as a nutritional supplement in a wide variety of foods.

The province is investing $7 million in job-based incentives, $6.5 million in loan guarantees and $2 million in land servicing costs.

The province's announcement is expected to help strengthen existing life science firms and attract new firms to Nova Scotia.

"Today's announcement is great news for the life sciences industry in Nova Scotia and confirms our position as a centre for 'commercialization realization' when it comes to bioscience," said Stephen Duff, president of BioNova, the province's life sciences industry association. "Ocean Nutrition Canada has transformed local research into patented intellectual property and is applying it to new products to create new global markets. BioNova sees this investment in Ocean Nutrition as an investment in the future of our industry."