Wit Ventures: Lambton County Invests in Bioindustrial Innovation.

Thursday, 13 July 2017

Lambton County Invests in Bioindustrial Innovation.

Lambton County is set to become an investor in a not-for-profit agency helping new bio-chemical companies set up their first manufacturing sites.

County council recently authorized finalizing a $2.5-million five-year loan and a $2-million investment in a Bioindustrial Innovation Canada's investment fund so it can fully access $4.5 million in matching federal funds.

The loan includes $1 million advanced to the Sarnia-based agency in March after it approached the county for help.

In 2016, Bioindustrial Innovation Canada was approved for $5.5 million in federal matching funding but only $1 million of its own funds available, so it asked Lambton County to loan it the remaining $4.5 million.

The $1-million advance by the county allowed the agency to secure matching federal funding set to lapse March 31.

John Innis, general manager of the county's finance division, said that when county staff were looking into details of the loan it became clear a loan of $2.5 million was the most the agency's cash flow 'could reasonably be expected' to support.

Link to the rest here.

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Shirley D. Neal

Shirley has over 30 years of experience in such diverse businesses as financial planning, manufacturing, and supply. Her education includes a B.A., B.ED., M.ED., C.F.P., N.L.P. and the home inspector’s course as well as having her AZ license for five years. Her family home has given her and her husband the opportunity to do extensive renovation and repairs thereby increasing the value about $100,000 in ten years. She has been able to see firsthand how much a sensible and cost efficient renovations can add to the value of a home. Shirley has chosen joint ventures because she thinks that her experiences an help others achieve their goals and maximize the profits for both parties. In 1979, Shirley became involved in a small group of women who started a metal manufacturing company making small deep drawn metal parts for the automobile companies in Windsor. They took the company from start up to over $400,000 in sales in five years. That was a lot of parts since the parts sold for only five cents per each. In 1985 they sold the company to one of their customers. Whether it was selling mutual funds, teaching foster parents how to recruit foster parents, or working for Tony Robbins, Shirley has put more than 100 percent into every endeavour she was involved in.