Funds will go toward work force expansions, equipment investments
TORONTO—Several days after investing nearly $2 million in three Cambridge, Ont. manufacturers, the province’s Southwestern Ontario Development Fund has announced a further $1.1 million investment into three different Ontario businesses.
The province will invest $440,900 into Walinga Inc.’s expansion of its Guelph and Fergus, Ont. operations, a project that will create 25 new full-time jobs and retain 177 others over four years.
Canada Tubeform has also secured a partnership from the Ontario government. Its London, Ont. plant will create 10 new jobs and retain 46 positions with the help of a $282,000 infusion from the SWODF. The funds will go toward a $3.77 million project to develop and purchase new equipment that will allow the company to fill orders from Honda, GM and Chrysler.
Meanwhile, Precision Resource Canada Ltd. will also receive $410,500 from the provincial fund to invest in equipment and increase its production capabilities. The $8.2 million project will create 19 jobs and retains more than 330 positions over three years.