$8.5 million earmarked for four Ontario manufacturers
Ottawa announces that $8.5 million is going to four businesses in the Southern Ontario region, with $3.5 million of that for Equispheres Inc., to accelerate the production of their aluminum powders and their viability in the automotive and aerospace industry.
$2.5M was announced for Krump Group Inc., to enhance productivity and scale up into a 100,000 sq. ft. space and this will also help them expand and hire 29 new workers in the Brampton, Ont. region.
$1.4M was also announced for Fourmark Manufacturing, to explore environmentally conscious packaging containers in the food and health industries, and is intended to create 67 jobs in the Oakville and Halton region.
BIG-nano Corporation will also be receiving a $750,000-repayable contribution, which hopes to help the company commercialize its manufacturing processes and outfit its new 13,000-square foot Cambridge facility with state-of-the-art equipment to produce up to 750 tonnes of nanofiber material per year.
The announcement was made the announcement virtually, where the federal Minister for the Economic Development Agency for Southern Ontario Helena Jaczek was joined by Anita Anand, Minister of National Defence and Valerie Bradford, MP for Kitchener South-Hespeler, Jenna Sudds, MP for Kanata-Carleton and Shafaat Ali, MP for Brampton Centre.
In total, the investment is intended to support the creation of over 110 jobs in the Southern Ontario region.
“We recognize the importance of being at the forefront of these companies, to support smarter and cleaner technologies to support the creation of rewarding jobs in the Southern Ontario region,” says Jaczek.