By: Laura Steiner
The federal government announced more funding for Ontario’s Manufacturing sector. Minister responsible for the Federal Economic Development Agency of Southern Ontario Helena Jaczek has announced an increase of $8.5 million aimed at four businesses across the province.
“The Government of Canada recognizes the importance of supporting southern Ontario’s manufacturing sector to help them produce cutting-edge Canadian-made technology and embrace next-generation commitment to supporting small and medium sized businesses,” Jaczek said. The manufacturing industry represents 30% of the provincial GDP, and 25% of the employment.
The investment will be spread among four different businesses, and create 110 new jobs. It breaks down as follows:
- Equispheres Inc: $3.5 million repayable contribution for the acceleration of the company’s proprietary metal powers and technologies for the 3D printing industry. Will create 55 jobs in the Ottawa area
- The Crump Group Inc: $2.8 million to help with $20 million in project costs as the business seeks to consolidate its operations into a 130,000- sq. ft. space in Brampton and expand into new markets. The company is expected to create 29 new jobs, and double its revenue by 2023
- BIG-nano Corporation: a $750,000 repayable contribution will be used to help the company with project costs of $3.4 million as they commercialize their manufacturing process, and outfit its noew 13,000 sq ft. facility in Cambridge Ontario. There is expected to be 16 new jobs, and maintain 10 jobs.
- Fourmark Manufacturing Inc: a $1.5 million repayable contribution towards costs related to new equipment in order to scale up and increase production capacity for its packaging for the food, health and beauty sector. The investment is expected to create 12 new jobs, and maintain 67 other jobs across the Oakville and Halton Region.
“This funding to Fourmark is supporting a rapid growth in sales spurred on by the pandemic and is helping FourMark continue down the path of environmentally conscious manufacturing and green solutions to food packaging challenges,” Fourmark Manufacturing Inc. Adam Cruickshank said. Fourmark is a family-owned business that was established in 1997.
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