Steel Manufacturing Company Increases Efficiency, Expands Product Offering
News release
August 27, 2019 – Hartland, NB – Atlantic Canada Opportunities Agency
Canada’s steel and aluminum sectors are key contributors to the Canadian economy, providing well-paying jobs in regions across Canada. Escalating commodity prices and increasing financial pressures have had a significant impact over the past year on small and medium enterprises operating within Canadian steel and aluminum supply chains.
Today, TJ Harvey, Member of Parliament for Tobique-Mactaquac, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced $500,000 in funding for Craig Manufacturing of Hartland, New Brunswick.
The funding is being provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March 2019. Delivered by Canada’s regional development agencies, the funding provides targeted support to Canadian small and medium-sized businesses in the steel, aluminum and manufacturing sectors through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly skilled jobs.
With this funding, Craig Manufacturing will acquire new production equipment to increase its efficiency and expand its product offering, resulting in its ability to build larger projects and seek new business, while maintaining jobs in the community.
Canada’s steel and aluminum sector is an important contributor to our economy and to our manufacturing supply chains, providing thousands of Canadians with good middle-class jobs. This funding initiative provides small and medium-sized businesses with consistent support across all regions of Canada, while allowing for support to be tailored to meet regional needs.
Quotes
“Our government supports the hard-working steel and aluminum workers and companies that are important to regional economies across Canada. Our investments to support small and medium-sized producers and users of steel and aluminum will help these businesses innovate to drive productivity, scale up and expand into new markets to create good middle-class jobs.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
“The small and medium-sized businesses in our steel and aluminum industries are important contributors to the economic vitality of communities across the country. Small and medium-sized businesses are the backbone of our economy, and by investing in their success, we are investing in the success of all Canadians.”
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
“Craig Manufacturing is an important employer in this community, providing jobs to 188 hard-working Canadians. I am happy that the Government of Canada is enabling Craig Manufacturing to modernize its operations and develop new products, so that it can secure additional sales both domestically and abroad.”
– TJ Harvey, Member of Parliament for Tobique-Mactaquac
“The support Craig Manufacturing is receiving from ACOA will assist with the investment in new state of the art CNC machining equipment that will greatly enhance Craig’s production capabilities in Hartland. As material costs have been very unstable due to free trade challenges, having the most efficient production machinery is key for Craig to remain competitive. This equipment will play an important role in maintaining Craig’s competitive position in the market.”
– Ben Craig, President, Craig Manufacturing
Quick facts
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Regional development agencies are one of Canada’s four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
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The Regional Economic Growth through Innovation program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up and by helping enhance regional technology clusters and innovation ecosystems.
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In 2018, Canada’s steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada’s gross domestic product.
Contacts
Dani Keenan
Press Secretary
Office of the Minister of Innovation, Science an Economic Development
613-301-8276
Bronwen Mosher
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-292-7524
Heath Alexander
Chief Financial Officer
Craig Manufacturing
506-375-4535
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