Rifle manufacturer Savage Arms in Lakefield, Ont., aims to create 49 new jobs with over $3.3 million in expansion plans.
The company just north of Peterborough on Tuesday said that as part of its $3,346,206 manufacturing investment, two new product lines will be introduced: lever-action rimfire rifles and centrefire hunting rifles.
Savage Arms, which marked its 50th anniversary in 2019, says the development will support other companies in Ontario as new manufacturing and tooling equipment will be purchased to support the expansion of the product lines.
The company currently employs nearly 150 people and manufactures approximately 1,600 rifles daily.
To support the company’s investment, the Ontario government is providing $504,631 in funding through the Regional Develop Program’s Eastern Ontario Development Fund, Peterborough-Kawartha MPP Dave Smith announced Tuesday.
“Our government is building a strong Ontario and strengthening the economy by supporting key investments in communities Selwyn Township,” Smith said. “This investment from Savage Arms, supported by the provincial government, will grow local manufacturing and create more jobs for workers and families in Peterborough County.”
Smith says the nearly 50 new jobs will have a major impact on the area’s economy.
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“Forty-plus new jobs for a community of about 3,500 people – that is huge,” he said.
Terry McCullough, vice-president and general manager of Savage Arms Canada, says the government funding helps the company fulfil its expansion plans.
“Savage Arms is a strong supporter of the community and pride ourselves on the quality products we design, build and deliver to our valued, multi-generational customers,” McCullough said.
“With the help of government funding opportunities such as this, we’re able to fully realize our vision to be the most widely used firearms in the world and give back to our community through jobs created and opportunities for workforce growth.”
The province says through the Regional Development Program, it has provided over $110 million to support 100 projects, leveraging over $1.1 billion in new investments and creating more than 2,300 jobs.
Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, says the province is “proud to support” manufactuers like Savage Arms as they grow and create more “good-paying jobs” in their respective communities.
“Investing in these types of community-building projects will help us continue to build Ontario and strengthen the economy,” he stated. “We thank Savage Arms Canada for making a significant impact in their community and for contributing to our province’s dynamic and growing manufacturing sector.”
— with files from Germain Ma/Global News Peterborough
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