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ONTARIO πŸ§‘πŸ”ŽπŸ’΅ Ontario Celebrates $93 Million Boost to Oxford County Manufacturing

Monday, 10 June 2024 10:22.AM

- Expansion projects by four companies will create 187 new jobs -

The Ontario government is welcoming $93 million in new investments from four Oxford County companies, creating 187 new, good-paying jobs across the region.

β€œOxford County has a long history of manufacturing excellence, and thanks to continued investments in the region, that legacy will continue,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. β€œAs we position Ontario as one of the top jurisdictions in the world for companies to invest and grow, our government is proud to support local businesses as they expand and create new jobs in communities across the province.”

Through Ontario's Regional Development Program (RDP) – a vital program designed to help manufacturers expand their production capabilities while aligning with distinct regional priorities – the province is investing $11.4 million to support these companies.
Oxford County recipients include:

β€’ Vuteq Canada Inc. is a Tier 1 automotive interior and exterior parts manufacturer. With an investment of close to $40 million, Vuteq Canada will expand its manufacturing facility in Woodstock with injection molding machines, collaborative robots and camera systems using artificial intelligence. The project is supported by $5 million in funding through the RDP and will create 145 new jobs.
β€’ Trans-Mit Steel Inc., a subsidiary of Mitsui & Co. (U.S.) Inc., specializes in the precision slitting of thin gauge steel products, primarily used for electric vehicle motors and power and distribution transformers. Their investment of more than $23 million to expand their Woodstock facility is supported by more than $3 million in funding through the RDP and will create 17 new jobs.
β€’ Armtec Inc. manufactures a range of infrastructure products and engineered construction solutions across industries like agriculture, infrastructure, and construction. Armtec will invest over $27 million to construct a new manufacturing facility in Tillsonburg. The project is supported by close to $3 million in funding through the RDP and will create nine new jobs.
β€’ MTO Metal Products Ltd. designs and manufactures custom metal parts for the forestry, manufacturing, construction and supply chain material handling sectors. The company has invested $2.5 million in new advanced manufacturing equipment at their Woodstock facility, supported by more than $386,000 in funding through the Advanced Manufacturing and Innovation Competitiveness stream of the RDP, creating 16 new jobs.

With manufacturing employment in Ontario at one of the highest levels in 15 years, the province continues to attract significant investment from both domestic and international manufacturers.
Ontario is investing $160 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 120 projects through the program, leveraging more than $1.7 billion in new investments and helping to create over 3,200 jobs.

"This is great news for Oxford. These significant investments in our area are a boost to our local economy and show our local manufacturers are playing a part in creating jobs and boosting the economy of Oxford and Ontario."
- Ernie Hardeman
MPP, Oxford

Quick Facts

β€’ The next intake round for RDP applications opens on July 2, 2024.
β€’ The government launched the RDP for eastern and southwestern Ontario in November 2019. Through this program, businesses and municipalities can get financial support and guided access to a range of complementary services and supports.
β€’ In 2022, the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream by providing more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.
β€’ As part of the 2023 Ontario Budget, the government introduced the Ontario Made Manufacturing Investment Tax Credit, which provides a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.

SOURCE: Ontario Ministry of Economic Development, Job Creation and Trade

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