Government support helps Razor Contract Manufacturing boost production
News release
October 14, 2022 · Saint John, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
Manufacturers across Canada are always looking for new ways to innovate, stay competitive and better position themselves for growth. As technology plays a key role in growth, businesses like Razor Contract Manufacturing are adopting advanced equipment, embracing research and development, and developing highly skilled workforces.
Federal and provincial investments will help meet increased export demand
Today, Wayne Long, Member of Parliament for Saint John – Rothesay, announced a repayable contribution of $950,000 to Razor Contract Manufacturing, through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
The Honourable Arlene Dunn, Minister responsible for Opportunities New Brunswick, also announced contributions of $235,000 in payroll rebate assistance for the company’s workforce expansion and a $412,500 conditionally-repayable loan for productivity improvements.
These investments will help the company purchase new automated equipment, increasing its production capacity and performance. These improvements will help Razor Contract Manufacturing meet growing customer demand in Canada and North America. The project will also create up to 29 skilled and well-paying new jobs.
Today’s announcement further demonstrates the Government of Canada’s commitment to building a strong Canadian economy by helping small and medium-sized businesses increase competitiveness and take advantage of growth opportunities.
Quotes
“Small and medium-sized businesses represent the backbone of regional economies. They generate quality local jobs and are a source of pride for their communities. The Government of Canada is committed to supporting manufacturers like Razor Contract Manufacturing as they continue to transform their operations through innovation.”
- The Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA
“By taking advantage of new, innovative technology, Razor Contract Manufacturing will be able to better service its existing customers while exploring new markets. I am so pleased that this home-grown, Saint John company, is creating new opportunities for our local workforce and helping to grow the economy.”
- Wayne Long, Member of Parliament for Saint John – Rothesay
“Advanced manufacturing is a priority sector for Opportunities New Brunswick and contributes greatly to the economic success of our province. Small businesses like Razor Contract Manufacturing have a significant impact on our province and we are proud to support its growth.”
- The Honourable Arlene Dunn, Minister responsible for Opportunities New Brunswick
"We pride ourselves at providing high-quality products, at a competitive price, and in a timely manner to our customers. With this funding, we will be able to become more competitive in North America and increase production to meet demand, while playing a bigger role in increasing provincial exports.”
- Allan Morris, Chief Financial Officer and Co-Owner, Razor Contract Manufacturing
Quick facts
-
Founded in 2010, Razor Contract Manufacturing Ltd. specializes in metal fabrication, including carbon steel, stainless steel, and aluminum, primarily for the aerospace industry.
-
ACOA’s Regional Economic Growth through Innovation (REGI) program supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
Associated links
Contacts
Marianne Blondin
Press Secretary
Office of the Minister of Official Languages and of the
Atlantic Canada Opportunities Agency
Marianne.blondin@acoa-apeca.gc.ca
Ann Kenney
Senior Communications Officer
Atlantic Canada Opportunities Agency
Ann.kenney@acoa-apeca.gc.ca
Michel LeBlanc
Communications
Opportunities New Brunswick
Michel.leblanc@onbcanada.ca
Allan Morris
Chief Financial Officer and Co-Owner
Razor Contract Manufacturing Ltd.
506-647-9915
Stay connected
Follow ACOA on Facebook, Twitter, LinkedIn and Instagram.
Page details
- Date modified: