In an exciting development for the Niagara Region, the Ontario government announced a substantial $65 million investment in the local manufacturing sector. This strategic move is set to create 46 new, high-quality jobs, fostering economic growth and stability in the region.
Supporting Local Growth
Three prominent companies are leading this transformative initiative, and the province is contributing $6.7 million in support through the Regional Development Program (RDP). This injection of funds aims to strengthen the manufacturing landscape and empower businesses to expand, creating a positive ripple effect in local communities.
Niagara Region’s Manufacturing Champions
1. Stanpac Inc.: Renowned for manufacturing dairy, food, and beverage packaging Governmeglobally, Stanpac Inc. is investing over $35 million to enhance its facility in Smithville. The infusion of advanced equipment, robotics, and upgrades will not only increase efficiency but also generate 30 new jobs, firmly establishing Stanpac as a key player in the region.
2. AMSI Inc.: Specializing in the design and construction of e-houses, AMSI Inc. is channeling approximately $20 million into a new 67,000 square-foot manufacturing facility. This strategic move is geared towards improving manufacturing processes for large, complex equipment, fostering growth, and creating nine new jobs.
3. St. David’s Cold Storage: Committed to providing cold, freezer, and ambient storage solutions, St. David’s Cold Storage is investing $9 million to expand its facility and double its refrigerated storage space. This forward-looking initiative, supported by over $1.3 million through the RDP, is poised to create seven new jobs and position the company for expanded operations and exports.
Regional Development Program – Catalyzing Growth
The Ontario government’s commitment to supporting manufacturers is evident through the $140 million invested in the Regional Development Program. With over $122 million already allocated to 100 projects, this program has successfully leveraged more than $1.3 billion in new investments, leading to the creation of over 2,500 jobs across the province.
Building on Niagara’s Manufacturing Legacy
Sam Oosterhoff, Member of Provincial Parliament for Niagara West, emphasized the region’s manufacturing legacy and the government’s ongoing support through strategic investments. The Regional Development Program ensures that Niagara continues to be a top destination for jobs and talent well into the future.
Looking Forward
As the Ontario government opens applications for the next intake round of RDP funding until January 25, 2024, the prospects for continued growth and prosperity in the Niagara Region’s manufacturing sector are promising. This investment not only fortifies the existing industrial prowess but also solidifies Ontario’s commitment to fostering innovation, creating jobs, and building a resilient economic future.
For more information go to the Government of Ontarios website at: https://news.ontario.ca/en/release/1004080/ontario-welcomes-65-million-boost-to-niagara-region-manufacturing-sector
