Toronto bakery obtains $1.37M federal loan
The investment will help fund the installation of new automated processing lines
TORONTO—Specialty bread maker and bakery FGF Brands Inc. has received $1.369-million from the federal government to add new advanced production lines to its Toronto facilities.
The money from in “repayable contributions” came from the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) Investing in Business Growth and Productivity initiative.
The company, which has been operating for 10 years, works out of six locations across the Greater Toronto Area. This new automated processing equipment will produce muffins for the retail sector and sweet loaves for the food service industry.
The addition of new equipment will help reduce production time and costs and will advance production capabilities to better meet the needs of a niche market. This funding will also allow the company to expand its line of products for the food service industry.
The upgrade is expected to create up to 105 full-time jobs by 2017 and will leverage about $9.1 million through additional private-sector investment.