SWODF Awards $5.5M in Business Expansion Grants to Three Manufacturers
Two manufacturers in Woodstock, Ontario and one in Ayr, Ontario have recently been awarded business expansion grants. The three companies will use their Ontario government funding to drive economic growth for the province by creating and retaining jobs, expanding production facilities, and investing in innovative equipment.
The Southwestern Ontario Development Fund (SWODF) has invested a combined $5,499,721 in business expansion funding.
The Southwestern Ontario Development Fund offers funding for business development and the expansion of SMEs (Small and Medium-Sized Enterprises) located in the Southwestern Ontario region. The program is commonly used by manufacturers to offset costs of large scale investments into facilities and equipment. SWODF provides up to 10-15% of project expenses to a maximum $1.5M in Ontario government grants.
Ontario Businesses Receive $5.5M in Manufacturing Grants
Bend All Automotive, Hino Motors Canada, and SOPREMA Canada are the recipients of manufacturing grants from the Southwestern Ontario Development Fund. The organizations operate on a global scale, but all have facilities southwest of Toronto, where they serve the automotive, building, or civil engineering sectors.
$5.5M in SWODF funding for workforce development will be shared among three manufacturers.
The companies are using business expansion grants to invest in innovative technology, build/upgrade production plants, and purchase new state-of-the-art equipment. Overall, these projects will increase capacity and enhance global competitiveness. In addition, over 90 jobs will be created and 784 existing positions will be retained.
Bend All Automotive
Bend All Automotive is an established supplier of automotive components and automation tooling equipment. They support their customers worldwide with technology through product design, prototyping, product validation, tool building, and a flexible streamlined manufacturing process. The company has three manufacturing plants in Canada; two to produce parts, and one for the design and manufacturing of tooling and automation systems.
The company will receive $1,500,000 from the Southwestern Ontario Development Fund to invest in innovate technology to make lightweight aluminum components that will be 100 per cent recyclable and 35 per cent lighter than traditional coated steel products. This will help vehicle manufacturers meet growing demand for low emission and fuel-efficient vehicles. As well, the company will build new tube processing equipment including cutters, multi-station formers, washing systems, benders, and assembly stations. This project will create 30 new positions and retain 684 others.
Hino Motors Canada
Hino Motors Canada is the exclusive distributor of Hino products in Canada. Out of their Woodstock, ON plant they manufacture commercial vehicle trucks and buses adhering to Hino Motors Japan’s standards. After being acquired by Toyota in 2001, Hino quickly became one of the fastest growing medium-duty truck companies in North America.
$283,200 in Ontario government funding is allowing Hino Motors to purchase new equipment to expand its product offerings and begin the assembly process for a new range of trucks. This will allow the company to access new markets and increase its competitive edge in the automotive manufacturing industry. The Hino Motors project will create 10 new jobs and retain 100 existing positions.
SOPREMA Canada is a leading manufacturer of waterproofing, insulation, soundproofing, and vegetative solutions for the roofing, building envelope, and civil engineering sectors. A recognized international brand, SOPREMA has seven manufacturing facilities and ten technical and sales offices in Canada, including a Research and Development Centre in Drummondville, Quebec.
$3,716,521 in manufacturing grants are supporting the construction of a new, high-tech 107,000-square-foot manufacturing plant in Woodstock dedicated to making SBS modified bitumen membrane, which is a foundational material used on roofs for waterproofing. The company will also invest in new production lines to increase cost efficiencies and global competitiveness. The project will create 50 new jobs and, when completed, will make this the most innovative plant of the SOPREMA group.
About SWODF Funding for Workforce Development
The Southwestern Ontario Development Fund (SWODF) is an Ontario government funding program designed to support capital investment projects that enable high-growth-potential companies to boost their competitiveness and create new jobs within the province. Projects that involve large-scale facility expansions and the purchase of advanced equipment and innovative technologies are examples of initiatives eligible for funding.
By applying for the Southwestern Ontario Development Fund, businesses may leverage up to 10-15% of project expenses to a maximum $1.5M in Ontario government funding.
To access SWODF funding, companies must develop a competitive application that includes details of the project’s purpose, budget, timelines, and anticipated outcomes. The program is open year-round and is currently accepting submissions.
For Canadian manufacturers interested in starting a business expansion project, Mentor Works has developed the Key Tips: Expanding Production slide deck to share the best methods to ensure projects stay on time, on budget, and reduce impact on company cash flow.
Download the Key Tips: Expanding Production slide deck.
Posted: June 7, 2018 by Myra Bredin. Updated: June 7, 2018 by Myra Bredin.