Covered Bridge Potato Chip Company receives support from NB government
Covered Bridge Potato Chip Company receives support from NB government
The Covered bridge Potato Chip company in New Brunswick is receiving a $100,000 loan guarantee from the provincial government today.
The manufacturer of kettle chips, located in the St. John River Valley, will use the financial backing to secure 17 jobs, diversify product lines and expand into new markets.
President Ryan Albright said the company has more than tripled production of its old fashioned russet potato chips since its start-up in January 2009, landing its chip bags in stores across North America.
"We're growing more every day and the working capital will help us stay on top of demand,"he said Monday. "We've already launched tortilla chips and we've got some new flavours of potato chips coming out soon."
Covered Bridge will add seasalt and vinegar and creamy dill to its flavours, which now include seasalt and cracked pepper, barbecue and sweet potato chips.
Last April, the Atlantic Canada Opportunities Agency loaned the company $77,150 to help target specialty food export markets and motor coach tour operations. The funding was in addition to a $500,000 repayable investment in 2008 for the establishment of the plant in Hartland.
The province has also supported the company with more than $15,000 to attend trade shows, meet potential clients and expose the company to distributors and retailers.
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