Three manufacturers in Cambridge, Ontario have been announced as recipients of the Southwestern Ontario Development Fund (SWODF). Nearly $2 million will be allocated between these businesses, which is expected to create 130 long-term jobs, while maintaining 476 current positions over the next four years. Each manufacturer will leverage these funds for strategic projects including facility expansion and equipment upgrades. The following article will identify projects undertaken by the manufacturers, and detail how your business could receive SWODF Ontario government funding also.
Manufacturing Projects Receiving Ontario Government Funding through SWODF
Approximately $2 million will be provided to complete the following projects, which will provide substantial benefit to Cambridge’s manufacturing sector:
Kodiak Group Holdings Co. – New Manufacturing Centre
Footwear manufacturer Kodiak Group Holdings develops and distributes brands such as Kodiak, Terra, and Dickies. The Government of Ontario will be investing $480,000 through the Southwestern Ontario Development Fund to assist Kodiak’s move their footwear manufacturing centre to Cambridge where their head office and distribution centre are currently located. This project will help bring 80 new full-time jobs to Cambridge, Ontario.
Tenneco Canada – Equipment Purchase and Training
Exhaust systems and clean air product manufacturer Tenneco Canada will receive $1 million from Southwestern Ontario Development Fund for the purchase of new manufacturing equipment and training of staff to use the new equipment. This equipment will be used to support the launch of a new sport utility vehicle (SUV) in 2016. 29 new jobs will be created while 463 positions will be maintained.
Upland – Manufacturing Facility Expansion
Automotive machine and tooling manufacturer, Upland, will receive up to $509,150 in Ontario government funding to upgrade their production facility. Upland will leverage this funding to enhance their current manufacturing capabilities, and will add 21 new jobs while retaining 13 more positions.
Related Blog: Top 3 Government Grants for Ontario SME Export Expansion: Ontario SMEs have a variety of funding options for business and export expansion. Discover Ontario government funding programs to support your SME’s international growth.
Southwestern Ontario Development Fund (SWODF) Government Grants Ontario
The Southwestern Ontario Development Fund (SWODF) supports businesses by providing funding that enables expansion within southwestern Ontario. SWODF’s Business Stream provides a dynamic funding model that incorporates small and large-scale growth initiatives. SWODF will contribute up to 10% of eligible project expenses (to a maximum $1.5 million) in Ontario government grants for projects with a total cost of $500,000 to $10 million. Likewise, larger projects may receive up to 10% of eligible project expenses (to a maximum $5 million) in Ontario government loans if the total project spend is worth more than $10 million. Businesses must commit to creating a minimum of 10 new jobs through their business expansion to become eligible for funding.
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