The company behind local Peanut Butter company Pic's is getting a big funding boost from the Provincial Growth Fund

Regional Economic Development under-secretary Fletcher Tabuteau has just announced a 4.5 million dollar investment for three Nelson initiatives.

The Nelson Artificial Intelligence Institute will get the lion's share - at 3.4 million dollars.

But Picot Productions is also getting nearly 800 thousand dollars for its new Food Factory.

Tabuteau says the Factory will give start-ups across the region a collaborative environment to develop new products.