Ontario government funding support has recently been announced for three Barrie-based companies. Each successfully awarded business will use its small business grants to expand facilities and purchase new state-of-the-art equipment. As result, 94 new jobs will be created and another 370 jobs will be retained in the area.
In total, $2,017,700 in business expansion grants will be awarded through the Southwestern Ontario Development Fund.
Each of the successful recipients have been awarded funding through the Southwestern Ontario Development Fund (SWODF), an incentive commonly used to offset a portion of infrastructure and technology adoption costs. SWODF often supports the development and expansion of Ontario-based manufacturers and can improve the scope, scale, and timelines of growth projects.
Southwestern Ontario Development Fund Supports Three Barrie Manufacturers
Over $2 million in business expansion grants have been awarded to three Barrie, Ontario-based manufacturers. These firms include:
- Beta Tech Inc.
- Canplas Industries Ltd.
- Theta TTS Inc.
Beta Tech Inc. Facility Expansion
Beta Tech Inc. creates metal stamping parts in addition to manufacturing and designing tooling and assembly equipment for the automotive industry.
With $800,000 in manufacturing grants from SWODF, the company will expand its facility by 22,500 square feet. This newly constructed space will then be filled with innovative production technology such as 3D scanning equipment.
As result of this project, Beta Tech Inc. will meet growing order demands and achieve decreased lead times. This funding will also lead to 45 new jobs added while another 65 existing jobs are retained.
Canplas Industries Ltd. Global Distribution Project
Canplas Industries Ltd. supports the construction industry through four core areas, including ventilation, grease separation, plumbing and central vacuuming. The firm designs and manufactures plastic products for commercial and residential use across North America.
With over $660,000 in SWODF funding awarded, the company will invest in modern production equipment, new product lines and a 1,700 square foot addition to their current facility in Barrie.
Through this expansion project, Canplas Industries Ltd. will boost its efficiency and productivity. With its extra output, Canplas will begin exporting its products outside of North America, beginning with Europe. The project will also result in 30 new jobs and the retention of 143 current jobs.
Theta TTS Inc. Productive Equipment Project
Theta TTS Inc. specializes in producing fine-stamped parts and the design, development and manufacturing of custom tooling. Integrated in the global automotive industry, Theta TTS Inc. is a full-service parts provider of stamped metal parts and assemblies.
With $554,000 in SWODF funding support, the company will purchase auxiliary equipment and a market-leading fine blanking press to support production. This will make the company’s in-house stamping capabilities more efficient.
As a result, Theta TTS Inc. will maximize productivity, reduce lead times and increase production by up to half its current output. It will also create 19 new jobs and retain 162 current positions.
About the Southwestern Ontario Development Fund
The Southwestern Ontario Development Fund (SWODF) is a business expansion funding program that supports large-scale capital projects. Typically, manufacturers use the program to increase the size of production facilities and purchase new equipment. By accessing government funding, companies can reduce the costs of these projects and complete them faster.
The Southwestern Ontario Development Fund provides up to 10-15% of eligible project expenses to a maximum of $1.5 million in Ontario government grants.
To develop a competitive SWODF application, businesses must propose a future project that creates and retains high-quality jobs, supports increased productivity, and helps the company access new markets.
Be Prepared for Manufacturing Expansion Projects
To be considered for manufacturing grants such as the Southwestern Ontario Development Fund, companies require strong project management and an eligible project.
To ensure your manufacturing company is on the right track for its next expansion project, please download Mentor Works’ Key Tips: Expanding Production in Canada slide deck.