The Ontario government is providing more than $200,000 through the Northern Ontario Heritage Fund Corporation to two manufacturing companies in Sault Ste. Marie.
Steel Speed, an industrial maintenance and construction services company, is receiving $118,483 to purchase equipment to increase its manufacturing capacity, and $83,871 is to help establish Grunewald Machine Ltd., a machining and fabrication services business, according to a news release.
“Today’s investment will help create real opportunities through new highly skilled, good-paying jobs here in Sault Ste. Marie,” said Ross Romano, MPP for Sault Ste. Marie in the release “This funding is contributing to our local, regional and provincial economies, and is a great example of our community being an important part of the integrated supply chain in the industrial manufacturing sector.”
The NOHFC promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $613 million in 5,214 projects in Northern Ontario, leveraging more than $1.94 billion in investment and creating or sustaining over 8,240 jobs, the release said.
“Supporting local companies as they develop and expand creates jobs, keeps the North competitive and current, and attracts new investment,” said Greg Rickford, Minister of Northern Development. “Our provincial government funding is helping businesses thrive, leading to economic prosperity in our communities and providing real opportunities for northerners.”
Quotes
- “Steel Speed is a multi-discipline construction firm. The NOHFC grant was used towards the purchase of a new Ocean Avenger 40 CNC beam line for our structural fabrication facility, which directly contributed to the creation of four additional local full-time jobs," said General Manager Chris Rollin. "The backing from the Ontario government and NOHFC contributions to local manufacturing and trades have created a positive and noticeable impact for the Northern Ontario economy that will last for years to come.”
- “We would like to thank NOHFC for believing in our business and providing the support to make our concept a reality," said Grunewald Machine Ltd. co-owner and Secretary Danae Grunewald. "The funding has allowed us to purchase the necessary equipment and tooling to successfully operate a machine shop. Since receiving the funding, we have been able to provide 5 full-time and 3 part-time positions. Our machine shop is now equipped with a variety of machines and tools, including manual and CNC lathes and CNC milling machines. Investing in new technology has helped us to grow our business and provide quality work to our customers.”