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$250,000 Loan for Sedum Master

Thursday, 23 February 2012 06:35

A growing Princeton-area business is the latest recipient of a 250-thousand dollar federal loan. Sedium Master is the latest Sandplains project. Sedium grows green roofs and walls for a wide range of clientele according to President Greg Magda. "Corporate clients, homeowners, basically everybody and anybody that's got an interest in greening the environment. We've got a lot of clientele from national accounts to Mr. and Mrs. Jones the backyard gardener." The new funding will help Sedium grow more inventory, and hire one full-time, two part-time and four seasonal workers. Oxford MP Dave MacKenzie says this is a prototypical Sandplains project. "The Magda family did grow tobacco, so this is a natural transition. They're doing a great job and what they're doing is not only good for the local economy, but also the environment." Among the benefits: Green roofs produce more oxygen, help absorb rain water that would otherwise find its way into the sewer system, and some green roofs even produce fruits and vegetables. So far, 11-million dollars has been dolled out through the Sandplains Fund, creating around 250-jobs in the region. General Manager of the Oxford Small Business Support Centre, Lance Pickering, says the beauty of these low interest loans, is they will continue to benefit local companies in the future. "All that money is going to come back in the form of interest and principle. So the money just keeps coming in, and we just keep lending it back out."

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