CHARLOTTETOWN – A Prince Edward Island mussel processor is getting $940,000 in government funding to expand its operations.
PEI Mussel King plans to purchase new equipment to add a new production line, allowing it to offer new package sizes of fresh and frozen Island mussels.
The federal government is offering a $470,000 repayable loan through the Atlantic Canada Opportunities Agency’s business development program, while the province is also lending $470,000 through Finance PEI.
The company exports its product to countries such as China, Japan, Israel, Egypt, Hong Kong, Kuwait and the United States.
The provincial government says Atlantic Canada accounts for 90 per cent of all mussels sold in North America with the Island accounting for 80 per cent of the overall production.