The federal government has committed to $20 million in funding for the Gerdau Ameristeel.
The money will go towards upgrades to facilities in Whitby and Cambridge. Those upgrades include modernizing production lines in order to reduce long-term cost and waste.
“Today was an example of how we’re delivering for the steel industry and the workers that are employed here in Canada,” Pickering-Uxbridge MP Jennifer O’Connell said.
According to the feds, the project ensures the existing 710 jobs at the plants will remain. They’re also expecting the addition of 108 more jobs.
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Altogether, the project is expected to cost around $81 million, meaning the federal government is covering just under a quarter of the overall price tag.
“We know that we have a quality product that is world-renowned, and so we’re going to stand with the industry and make sure we are globally competitive,” O’Connell said.
WATCH: (July 16, 2019) Canadian steel industry nervous about Trump’s ‘Buy America’ rules
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