Ontario Invests $93 Million in Oxford County Manufacturing, Creating 187 New Jobs
WOODSTOCK – Oxford County’s manufacturing sector is set to receive a substantial boost with the announcement of $93 million in investments from the Ontario government. This infusion of funds will facilitate expansion projects by four prominent companies, leading to the creation of 187 new jobs in the region.
The investments, part of Ontario’s Regional Development Program (RDP), aim to bolster manufacturing capabilities while addressing regional priorities. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, expressed optimism about the impact of these investments on Oxford County’s economy. He noted the county’s rich manufacturing heritage and emphasized the government’s commitment to supporting local businesses.
Among the beneficiaries of this funding is Vuteq Canada Inc., a leading Tier 1 automotive parts manufacturer. Vuteq Canada plans to invest nearly $40 million in expanding its Woodstock facility, utilizing cutting-edge technology such as injection molding machines and artificial intelligence-driven camera systems. This initiative, supported by a $5 million grant through the RDP, is expected to generate 145 new jobs.
Kicking off our day in Oxford County at Vuteq Canada to announce their nearly $40M investment to expand their manufacturing facility in #Woodstock.
With $5M in support through our Southwestern Ontario Development Fund, they are creating 145 new jobs!https://t.co/r0HksnzoNt pic.twitter.com/Gz89hF1Awb
— Victor Fedeli (@VictorFedeli) June 10, 2024
Trans-Mit Steel Inc., a subsidiary of Mitsui & Co. (U.S.) Inc., is also set to expand its operations in Woodstock with an investment exceeding $23 million. Specializing in precision slitting of steel products for electric vehicles and transformers, Trans-Mit Steel’s expansion will create 17 new jobs, with over $3 million in RDP funding.
Armtec Inc., a manufacturer of infrastructure products, will invest over $27 million to construct a new facility in Tillsonburg. This project, supported by nearly $3 million in RDP funding, will lead to the creation of nine new jobs, further bolstering the local economy.
Additionally, MTO Metal Products Ltd., a custom metal parts manufacturer, has invested $2.5 million in advanced manufacturing equipment at its Woodstock facility. This investment, backed by more than $386,000 in RDP funding, will create 16 new jobs across various sectors.
The announcement comes at a time when manufacturing employment in Ontario is at its highest level in 15 years, reflecting the province’s resilience and attractiveness to investors. Ontario’s commitment to supporting manufacturing growth through programs like the RDP has led to significant investments, totaling $160 million, and the creation of over 3,200 jobs across the province.
The substantial investments in Oxford County’s manufacturing sector signal a promising future for the region, positioning it as a hub for innovation and economic prosperity. As these projects unfold, they are expected to not only create job opportunities but also contribute to the continued growth and development of Ontario’s manufacturing landscape.
