Funding Alert: Dairy Innovation and Investment Fund (DIIF)
The Dairy Innovation and Investment Fund (DIIF) is a $333 million program designed to help the dairy sector modernize, replace and increase solids non-fat (SNF) processing capacity and minimize non-marketed skim milk. Funding is available for projects that will result in significant, net-new capacity to process liquid skim milk and address the structural surplus of SNF within Canada.
Up to 33% of eligible project costs up to a maximum of $75M per project (or the total funds available in the region of the project, whichever is lower).
Project Summary Form (PSF) due Nov 3, 2023. Projects must be completed by Mar 31, 2033.
For-profit organizations, including corporations, cooperatives and partnerships, that:
- Are canadian dairy product manufacturers who process cows milk, and
- Hold a valid federal or provincial licence for dairy processing.
Across all Canadian provinces. Funding has been allocated to 4 regions as follows.
- Ontario ($127M)
- Quebec ($109M)
- Western Canada (BC/AB/SK/MB – $74M)
- Atlantic Canada (NB/PEI/NS/NL – $18M)
- New facilities: must result in a net increase in solids non-fat processing capacity of at least 50 million litres of skim milk per year (organization-wide in Canada).
- Equipment purchase/replacement and/or facility expansion: must result in a net increase in solids non-fat processing capacity of at least 25% and 30 million litres of skim milk per year compared to the current facility and organization-wide in Canada.
- Construction of a new facility
- Purchase/shipment/installation/commissioning of new equipment + systems (e.g. software)
- New/expanded milk reception and storage areas
- Facility retrofits/renovations to house new equipment
- Training to operate new equipment
Capital assets and contracted services associated with the above eligible activities.
*Retroactive costs eligible as of November 17, 2022 if the PSF is received by November 3, 2023.
Thinking of applying for financing? These funds are highly competitive, contact us today to get started!
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