Did you know that Ontario is a powerhouse in the manufacturing sector, contributing significantly to the province’s economy? According to Statistics Canada, manufacturing accounts for 11% of Ontario’s GDP.
EcoPoly Properties Inc., a leading producer of plastic products, has secured a significant investment of $3.5 million from Ontario’s Southwestern Ontario Development Fund (SWODF). This funding injection supports $32M from the company to fuel EcoPoly’s expansion efforts and pave the way for the creation of 85 new, well-paying jobs for the local workforce.
Fostering Growth Through Strategic Investments
“Investment in the Regional Development Program signifies our commitment to fostering the right conditions for manufacturers to thrive,”
Vic Fedeli, Minister of Economic Development, Job Creation and Trade
EcoPoly Properties Inc., renowned for its innovative biodegradable plastic products, will utilize the investment to acquire state-of-the-art equipment and automation, enhancing its production capacity and competitiveness in the North American market.
Supporting Sustainable Development and Driving Economic Prosperity Through Collaboration
Bryon Wolff, Chief Technology Officer of EcoPoly Properties Inc., expressed pride in the company’s Canadian roots and growth trajectory since its inception in 1991. He credited the support from the SWODF as instrumental in facilitating the next phase of their growth.
Member of Provincial Parliament for Simcoe North, Jill Dunlop, echoed this sentiment, emphasizing that the funding not only fuels the expansion of EcoPoly’s operations but also paves the way for job creation and economic growth. She highlighted the role of government initiatives reinforcing Ontario’s position as a leader in green technology and industrial innovation.
Embrace Opportunity Today
Ontario’s Regional Development Program stands as a testament to the government’s dedication to supporting manufacturers and driving economic growth. Mentor Works, a Ryan Company, can support your company’s application to Regional Development Programs such as SWODF or the Eastern Ontario Development Fund (EODF). The EODF is a business expansion funding program that incentivizes companies to invest in new facilities and equipment, as well as supports economic development organizations, municipalities, and consortia in investing in infrastructure or implementing strategies to advance regional priorities.
FedDev Ontario is another relevant program for Ontario businesses. FedDev Ontario helps businesses grow, adopt innovative technologies and gain competitive advantages through strategic funding that supports productivity improvements, increased exports, and workforce expansions. Visit the program page to learn more.
Visit our Manufacturing Funding Directory to explore potential avenues for financial support. Reach out to our team today to assess your eligibility for government funding programs.