The Leeds Grenville area has received a big boost for its industrial sector from a federal government business accelerator.
Bioindustrial Innovation Canada (BIC) has opened an office near the city of Brockville with the goal of attracting green and clean biochemical companies to the area. BIC describes itself as providing project funding – as well as business advice and technical services – to “sustainable chemistry” SMEs. Its portfolio includes biofuel firms, companies developing water purification solutions and organizations exploring ways of giving new life to used lubricating oil and depleted end-of-life lithium-ion batteries.
The immediate goal is to attract companies to the industrial site of the existing Invista plant where they can take advantage of Invista’s existing infrastructure and excess power, water and steam capacity to reduce their startup capital costs, according to a report in the Brockville Recorder & Times. Invista is a multinational manufacturer of integrated polymers and fibers, for nylon, spandex, polyester and specialty applications.
For the federal government, the goal is long-term job creation. BIC also has available $15 million in grant money from FedDev Ontario.