FedDev Ontario Invests $3.9M in Two Manufacturers for Innovation and Skilled Jobs Creation
FedDev Ontario has announced an investment of $3.9 million to support the growth and innovation of two provincial manufacturing companies, Kumi Canada Corporation (Kumi Canada) and York Metal Products. Together, these two manufacturers plan to generate over 90 new skilled jobs, innovate their internal processes, and improve the automotive sector’s status following significant losses caused by the global COVID-19 pandemic.
“As southern Ontario’s auto sector works to maintain its position both on the domestic and international stage, the government is doing our part to help manufacturers boost production, increase operational efficiencies and strengthen the sector’s supply chain, while creating more than 90 jobs in Concord and Bradford.”
– Deb Schulte, Minister of Seniors and Member of Parliament for King–Vaughan
Understanding the significance and impact that manufacturing maintains in Ontario, the province has been investing a substantial amount of financial support for manufacturers to support the economy in recovery with skilled jobs and ongoing innovation. Recently, Ontario also invested $3 million to build a new manufacturing facility in Waterloo Region.
Kumi Canada Receives $2M From FedDev Ontario
Based out of Bradford, Ontario, Kumi Canada is a parts supplier that provides Canada’s automotive sector with large-scale injection molding and assembly products. With a $2 million investment from FedDev Ontario, Kumi Canada plans to expand their Bradford facility by 60,000 square feet, increase production by 40 percent, install advanced energy-efficient equipment, and create 60 new jobs as a result.
The energy-efficient equipment that Kumi Canada is adopting will allow them to automate and integrate their internal processes, therefore reducing overhead costs and overall energy consumption throughout their facility.
This project will also leverage an additional $15.7 million from private sector funding to continue strengthening the automotive sector supply chain across southern Ontario.
York Metal Products Accepts $1.9M From FedDev Ontario
Based out of Concord, Ontario, York Metal Products is a metal fabricating company that develops enhanced designs and processes for clients to lower costs and improve business performance. With $1.9 million from FedDev Ontario, York Metal Products plans to purchase advanced automation and robotic equipment to scale-up production of its unique one-piece metal exhaust emission part for the automotive industry and in so doing, establish 32 new skilled manufacturing jobs at their facility in Concord.
The new parts and equipment to be integrated by York Metal Products aim to reduce greenhouse gases, eliminate alternative exhaust emissions, and will be far more cost-efficient than other products currently on the market.
This company will also utilize an additional $10.8 million from private sector investments to allow them to meet growing demand from the North American automotive sector.
FedDev Ontario Government Funding Opportunities
FedDev Ontario offers many options for financial supports. One example is the Business Scale-up and Productivity (BSP) program, which offsets project costs to help southern Ontario businesses expand their operations. Just as it has helped Kumi Canada and York Metal Products, the BSP program supports businesses as they adopt new, innovative technologies that support scale-up, productivity, and entry into new global markets.
FedDev Ontario’s BSP program provides southern Ontario businesses with expansion loans of up to 35% of project costs to a maximum $10 million.
Learn more about how you could utilize Government Funding to Expand Manufacturing Production by downloading our free slide deck resource. The resource focuses on four critical areas of growth including business expansion and exporting, capital and technology adoption, research and development, and hiring and training strategies.
