10 Windsor Manufacturers Awarded $3M in Business Expansion Grants
The Government of Ontario recently awarded over $3 million in business expansion grants to support 10 growth and development projects within the Windsor-Essex region. The investment will help 10 local manufacturers offset large-scale capital investments that will allow the companies to increase capacity, improve productivity, and boost competitiveness.
The contribution be provided through the Southwestern Ontario Development Fund (SWODF), which offers funding to support facility expansion and equipment acquisition projects. Southern Ontario-based manufacturers can access the same program as these manufacturers, covering up to 10-15% of eligible expenses to a maximum $5 million in business expansion funding for jobs that incur significant job growth.
If successful, these business expansion projects will aid local economic development, while creating a total of 178 jobs and retaining a total of 384 positions.
Over $3M in Business Expansion Grants Support 10 Manufacturing Companies
In August 2017, the Government of Ontario awarded ten manufacturers in the Windsor-Essex region funding to carry-out business expansion projects. Government grants will support manufacturers within the automotive, tool and die making, metals, plastics, and/or equipment inspection industries. A total of $3,027,066 in government funding has been awarded to accelerate these projects.
The Southwestern Ontario Development Fund’s contribution will help create nearly 200 new employment opportunities within the Windsor-Essex region and retain 384 existing positions.
Thanks to the Government of Ontario’s support, many of these manufacturers will be able to expand their operations, invest in new equipment, and build/upgrade their facilities. These investments will allow the businesses to create new product lines, boost productivity, and increase their market competitiveness.
Ontario small business expansion grants will support the following companies/projects:
- Windsor Mold ($1 million): Developing an automated manufacturing process for plastic injection molds and mold components, creating more than 50 new jobs.
- Superior Tool and Mold ($555,300): Purchasing new equipment with automated robots to improve efficiency and production capacity, creating 13 new jobs and retain 74 positions over three years.
- Ramstar Carbide Tool ($312,644): Modifying and upgrading facilities to accommodate new automated equipment, creating 11 jobs and retaining 24 positions over the next four years.
- Proto Manufacturing ($224,200): Conducting research and development to introduce a new product line of scientific equipment, creating 16 jobs and retaining 34 positions over five years.
- Saturn Tool & Die ($186,100): Purchasing new equipment to increase production of tools and dies for the metal stamping and auto industries, creating 10 new jobs and retaining 51 positions over the next three years.
- Select Tool ($181,152): Expanded and diversified operations through automation and robotics integration, in addition to the acquisition of new equipment, created 24 new jobs and retained 101 positions. (Note: this project concluded on July 31, 2017)
- Greco Aluminum Railings ($173,500): Purchasing new equipment to produce additional product offerings, creating 22 new jobs and retaining 55 positions over three years.
- Jesse Garant Metrology Center ($162,370): Investing in a second facility and purchasing new advanced imaging equipment to fill it, creating 10 jobs and retaining 13 positions over three years.
- Stratus Plastics International ($121,100): Investing in energy efficient equipment, two robotics systems and a material handling system to increase company capacity, creating 12 jobs and retaining 12 over four years.
- Technical Molding Management Systems ($110,700): Purchasing new equipment and developing lightweight molds to develop lightweight auto parts, creating 10 jobs and retaining 20 positions over two years.
Related Post: Southwestern Ontario Development Fund (SWODF) Awards Manufacturer $875k in Grants
Southwestern Ontario Development Fund (SWODF): Business Expansion Funding
The Southwestern Ontario Development Fund (SWODF) supports business expansion projects by providing government grants and loans. The program administers funding to reduce the costs of purchasing capital equipment, investing in workforce development, and developing new infrastructure.
Ontario-based businesses may be eligible to receive the following funding contributions:
- Project Budgets Under $10 Million: Up to 10-15% in Ontario government grants to a maximum of $1.5 million in funding.
- Project Budgets Exceeding $10 Million: Up to 10-15% in Ontario government grants to a maximum $1.5 million in funding with the option to access another $3.5 million in repayable funding.
Related Post: Southwestern Ontario Development Fund (SWODF): Do you Qualify?
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