Businesses in Cobourg and Lindsay are among five companies receiving provincial funding to create new jobs and support existing positions.
On Thursday in Cobourg, Peterborough MPP Jeff Leal, Minister for Small Business, announced several million-dollar investments through the Eastern Ontario Development Fund.
“Supporting regional economic development is a key priority for our government,” he said.
The Canada Candy Co. in Cobourg is receiving $1,292,400 from the eastern Ontario fund. This will supplement an additional investment of $9,477,175 the company is making in a state-of-the-art facility that will make new types of gummy candies.
The project will create 29 new jobs, and is expected to be completed by February 2021.
“With the new facility and equipment, the company is in-sourcing the production of the high quality candy it is known for,” Leal said.
The company is a leading consumer-packaged goods manufacturer that makes candy for retail sale, re-packing and private label. It was the first candy company in North America to offer peanut-free, kosher and halal products.
“The impact of receiving assistance from the Eastern Ontario Development Fund cannot be understated and has allowed Canada Candy to source the very best production and processing equipment,” said Tom Copping, director of operations for Canada Candy.
“This has translated into the ability to make great candy with high levels of efficiency. The quality of the equipment has allowed us to quickly build product output, resulting in increased employment and putting us well ahead of our target.”
Two Lindsay companies are also receiving ECDF support.
Armada Toolworks, which specializes in auto parts such as door handles, vents and speakers, is receiving $652,500 from the ECDF. That money will support an additional investment of $6,362,500 the company is making to install a new assembly line and increase press capabilities of up to 1,000 tons.
The project will create 29 new jobs, help to retain 257 existing positions.
“This will help the company to make higher-value large components, including glove boxes and door handles, allowing the company to remain competitive and grow its operations,” Leal said.
Goat cheese maker Mariposa Dairy is receiving $1,079,402 from ECDF and will use it to acquire new automated equipment to increase processing capabilities by more than 60 per cent, along with its own $15 million investment.
The project will create 18 new jobs, help to retain 85 existing positions, and is expected to be completed by December 2021.
“With new production lines for hard and soft cheese products, the company will take advantage of new opportunities in the specialty cheese market and food service sector,” Leal said.
The Muskoka Rock Company received $350,000 to create 15 new jobs while Panolam Industries of Huntsville is receiving $398,000 to create 19 new jobs.
Leal was joined by Steven Del Duca, Minister of Economic Development and Growth and Northumberland-Quinte West MPP Lou Rinaldi for the funding announcements.
“I am pleased that these five companies are partnering with us through our Eastern Ontario Development Fund,” Del Duca said. “Our regional investment funds are helping to create good jobs and helping companies innovate, stay globally competitive and stay strong in their communities.”
Rinaldi says the companies are valued members of the eastern Ontario business economy.
“I am delighted our government is taking part in their growth plan to foster new economic opportunities,” he said. “This is great news for families in the community and I look forward to seeing them take their business to the next level.”