March 3, 2020 - New Liskeard, ON - Federal Economic Development Initiative for Northern Ontario - FedNor
Manufacturing is one of Canada's most important economic sectors, contributing to a large share (1.7 million) of Canada's full-time, well-paying jobs across a wide range of industries. In Northern Ontario, manufacturers are helping to fuel recovery efforts by producing important goods for domestic and international markets, while creating jobs that support families throughout the region. As technology transforms the industry, the Government of Canada will continue to help Canadian companies evolve, scale up and modernize their operations and processes to stay on the cutting edge.
Terry Sheehan, Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor, today announced a Government of Canada investment of $410,250 to enable Wabi Iron and Steel Corp. to modernize and expand its manufacturing facilities in New Liskeard and immediately create eight high-quality jobs. In addition, the funding will help pave the way for the company to create up to 20 jobs as part of future expansions.
Provided through FedNor's Regional Economic Growth through Innovation Program, the repayable contribution will help Wabi Iron and Steel Corp. to purchase and install a variety of equipment, including milling, lathe and molding machines, as well as to complete structural and environmental improvements such as roof enhancements and lighting upgrades. The upgrades will enable the company to improve efficiencies, increase exports and expand product offerings to capitalize on growth opportunities in key sectors such as mining, forestry and mineral processing.
COVID-19 has highlighted the importance of innovation in manufacturing. With the support of the Government of Canada, organizations like Wabi Iron and Steel Corp. are reassessing their models and adapting their operations to better serve clients, while continuing to find opportunities for development and growth. As we move towards safely reopening Canada's economy, the government will continue to invest in our manufacturing sector to create jobs and help fuel recovery efforts in Northern Ontario and across the country.
Quotes
"Advanced manufacturing supports good-paying jobs in communities across Canada and today's announcement is further proof of our government's commitment to supporting manufacturers through these challenging times. Our message to them is clear: we've been here for you with immediate measures, we're here for you now and we'll get through this, together."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
"Northern Ontario is home to a manufacturing sector that is helping to strengthen our economy. From mining equipment to clean-tech, to value-added products and beyond, this key sector creates good jobs and is an vital part of a growing supply chain. I am proud that this FedNor investment will further position Wabi Iron and Steel Corp. for immediate and future growth."
- Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
"Nipissing-Timiskaming is a strategic hub for manufacturers that produce important products for mining, forestry and much more. Investing in innovative businesses like Wabi Iron and Steel Corp. will support recovery efforts, create jobs, increase exports and maximize the economic potential and sustainability of our manufacturing sector."
- Anthony Rota, Member of Parliament, Nipissing-Timiskaming
"This FedNor investment will allow us to purchase the cutting-edge equipment we need to scale up, increase production, expand into new markets and meet the growing demand for our products and services. We are thrilled that the Government of Canada stepped up to help us create local jobs and become more competitive in the global marketplace."
- Jeremy Birnie, CEO, Wabi Iron & Steel Corp
Quick facts
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The funding announced today is provided through FedNor's Regional Economic Growth through Innovation (REGI) program, which supports the growth of Canadian businesses, their expansion into new markets and their adoption of new technologies and processes.
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Since 2015, FedNor has invested over $38 million in 59 manufacturing projects across Northern Ontario.
