FedDev Ontario investments enhance growth for rural southwestern Ontario businesses
Nearly $6.5 million to help six local businesses scale up operations and create more than 90 new jobs across rural southwestern Ontario
February 11, 2021 – Waterloo, Ontario
With world-class post-secondary institutions and urban technology firms, the manufacturing and industrial corridor along the 401 and a strong agricultural centre, southwestern Ontario is a diverse region, home to a variety of industries that support Canada’s economy. In the face of current economic challenges, the businesses in the region are innovating, adopting technology and increasing efficiency to take advantage of opportunities to come back strong, stay competitive and grow their workforces.
Today, Kate Young, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced a total FedDev Ontario investment of nearly $6.5 million to support the growth of six southwestern Ontario businesses.
Equipping southwestern Ontario’s businesses to succeed
Composed of a multitude of smaller rural economies, southwestern Ontario supports the region’s ability to innovate across many different sectors. The repayable contributions announced today will support Algonquin Bridge, Bold Canine Inc., Five Star Tool and Die Limited., Kinectrics Enterprises Inc., Larsen & Shaw Limited, and OWS Rail Car Inc. in scaling up manufacturing, locomotive services, steel bridge production, and pet food capabilities across the region.
In total, these six projects are expected to create more than 90 skilled jobs across southwestern Ontario, while also increasing supply chain spending in the region to help with recovery efforts through these challenging times. Each also serves an important role in the local economy.
For additional project details, please see the backgrounder.
“Small- and medium-sized businesses are the backbone of our regional economies and a source of pride and employment for communities across southwestern Ontario. With FedDev Ontario’s investments in these six rural innovators, we are building on regional strengths and creating the right conditions for growth in the post-COVID-19 economy.”
- Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario)
“Now is a critical time for us to support our businesses and workers. The Government of Canada is proud to help Canada’s most innovative manufacturers and industries weather the pandemic and come back strong. As we work to build back better, it is encouraging to see local companies seize opportunities to increase production and strengthen competitiveness, while also creating good jobs for Canadians.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario
Southwestern Ontario comprises most of the Ontario Peninsula bound by Lake Huron and Georgian Bay, with St. Clair River to the north and Lake Erie to the south. On land, it is surrounded by Central Ontario and the Golden Horseshoe, made up of larger regional ecosystems like Kitchener–Waterloo, Cambridge, Guelph, London and Windsor.
More than one in 10 of Ontario’s jobs are in the manufacturing sector, recognized as Canada’s manufacturing heartland.
Since November 2015, FedDev Ontario has invested nearly $150 million in more than 160 projects in the County of Bruce, Chatham–Kent, Lambton, Middlesex, and Wellington Census Divisions.
Since November 2015, FedDev Ontario has invested over $161 million in more than 130 projects in Waterloo Region Census Division.
Since November 2015, FedDev Ontario has invested nearly $557 million in 322 manufacturing projects across southern Ontario.
Press Secretary, Office of the Minister of Economic Development and Official Languages
Toll Free: 1-866-593-55
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