NEWS RELEASE
MPP ANN HOGGARTH
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Ontario is partnering with Brotech Precision Inc. to expand operations in Barrie, creating 15 new jobs and retaining 18 existing positions.
Brotech is a precision manufacturer specializing in exotic metal parts for the aerospace, defense and medical industries as well as the energy markets including nuclear and wind power.
With over $250,000 in support from the Southwestern Ontario Development Fund, the company will continue to purchase more advanced equipment and has recently moved to a larger facility in Barrie.
The adoption of advanced equipment will allow Brotech to work with high performance metals like titanium, which is critical to the aerospace industry. The project has a total value of over $2.5 million and is expected to be completed by July 2018.
The Southwestern Ontario Development Fund is helping to create jobs and diversify the economy by encouraging regional businesses to pursue innovation and new markets. It was modelled on the proven Eastern Ontario Development Fund.
Together these two funds are helping to create and retain more than 42,000 jobs and attract more than $1.9 billion in investment.
The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources.
This leveraging of private sector investment provides enhanced value for taxpayers.
Attracting new investment to southwestern Ontario is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs.
The four-part plan includes helping more people get and create the jobs of the future by expanding access to high-quality college and university education.
The plan is making the largest infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario’s history and is investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
QUOTES
“It is great to see a company like Brotech embracing growth and opportunity. Watching Brotech thrive confirms that making investments in Ontario’s homegrown businesses is the right thing to do to grow our economy and create jobs.”
— Brad Duguid, Minister of Economic Development and Growth
“Ontario is proud to support advanced manufacturers like Brotech as demand for their products increases and their business continues to grow. It is great to see companies expanding right here in Barrie.”
Ann Hoggarth, MPP for Barrie
“This is a great opportunity for us to partner with the Ontario government as our business continues to grow. There is increasing demand for our products and we can meet that demand by expanding our operations with this funding.”
— Jerome Horowitz, Vice President, Brotech Precision CNC Inc.
QUICK FACTS
- Brotech’s fiscal 2016 sales are expected to be 70 per cent higher than the previous year.
- Since October 2012, Ontario has committed to invest approximately $95 million through the Southwestern Ontario Development Fund, leveraging private-sector investment of more than $1.1 billion. These investments are helping to create over 4,300 new jobs and retain more than 20,000 existing jobs in the region.
- Ontario is accepting applications for the Southwestern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
- Ontario's five-year, $400-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.
LEARN MORE
Find out if your business qualifies for the Southwestern Ontario Development Fund
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