The Ontario government has announced an investment of $53.2 million to Quick Plug and Valbruna.
The funding is to help strengthen domestic manufacturing, create jobs, attract investment and boost regional economic recovery.
Combined, the province is investing more than $4.9 million in the local steel manufacturing and agriculture sectors through the Regional Development Program, which hopes to help create 45 new jobs.
Quick Plug engineers and manufactures a variety of peat plug products for professional growers, including traditional greenhouses and hydroponic growers. The company is investing $3.2 million to centralize its North American production facility in St. Catharines. Quick Plug will modify the current facility, as well as purchase new equipment and machinery to build a new, state-of-the-art manufacturing line. With Ontario’s investment of $480,000 from the Southwestern Ontario Development Fund, the company will create 30 jobs. With this investment, Quick Plug also plans to build a new research and development centre in the facility.
Valbruna is Canada’s only manufacturer of specialty steel products, including carbon, alloy and stainless steel. The company is investing $50 million in new innovative equipment and facility upgrades. With Ontario’s investment of more than $4.4 million from the Southwestern Ontario Development Fund, Valbruna will create 15 jobs. With this investment, the company expects to be the first in Canada to produce hi-nickel alloys and other specialty steels.
Ontario is investing more than $100 million through the Regional Development Program from 2019 to 2023 to support distinct regional priorities and challenges and boost the province’s economic recovery. The program provides cost-shared funding to businesses, municipalities and economic development organizations to help local communities attract investment, diversify their economies, and create good, local jobs.
The province launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Businesses and municipalities can get financial support through the Eastern Ontario Development Fund (EODF) and Southwestern Ontario Development Fund (SWODF) and guided access to a range of complementary services and supports.
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