The Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency, today announced $90,000 in funding for a feasibility study to examine the development of a multi-disciplinary science laboratory in Prince Edward Island.

The study, which is a follow-up to a road-mapping exercise which ACOA also supported, will be conducted by the University of Prince Edward Island. It will examine the architectural and business models for the development of a leading edge bio-resource research centre.

The proposed centre would carry out research on bio-active compounds in order to develop useful products for commercialization. Bio-active compounds, the ingredients used in the manufacture of pharmaceuticals and nutraceuticals, can be derived from bio-resources available in and around P.E.I. The centre would support the activities of other researchers at the University of Prince Edward Island and the Food Technology Centre (FTC) in Charlottetown.

"Prince Edward Island's strengths continue to be in the primary resource industries. The proposed research facility would build on this capacity by exploring and developing new and innovative applications of its resources in the field of bio-technology," said Minister Byrne. "Expanding global market opportunities and ensuring continued growth is imperative as this sector represents significant economic development potential for the province, and would help to ensure P.E.I.'s expanding participation in the knowledge-based economy."

"I am very pleased to see the University embark on this study," said the Honourable Lawrence MacAulay, Solicitor General of Canada and MP for Cardigan. "The P.E.I. economy will continue to grow and diversify as a result of investments in aerospace, value-added manufacturing and biotechnology. The bio-resource sector is recognized as one of the major growth areas for P.E.I. Its development will allow the province to remain competitive in national and international markets."

"The University, as a key player in the development of the bio-resource cluster in P.E.I., has expanded its research and development capacity and positioned itself as a leader in this initiative," said Shawn Murphy, MP for Hillsborough. "I am pleased that the Government of Canada is supporting the University's efforts in this area."

Funding for the study is being provided by ACOA's Business Development Program.

Peter A.H. Graham 
Office of the Minister of State
Atlantic Canada Opportunities Agency
(613) 957-9959

Catherine MacInnis-Gordon
ACOA PEI & Tourism
(902) 368-0502