Ontario partnering with Northern Cables to create Jobs
June 23, 2016 | By MRO Magazine
Ontario is partnering with Northern Cables to expand production and grow its business in Prescott and Brockville, creating 18 new jobs and retaining 163 positions.
Northern Cables manufactures copper, aluminum and low-voltage cables for industrial, mining and commercial use in North America. With $820,000 in support from the Eastern Ontario Development Fund, Northern Cables will add equipment to manufacture aluminum products in the Prescott location. The company will also expand one of their two Brockville locations to increase production. The project has a total value of $8.2 million and is expected to be completed in 2020.
The Eastern Ontario Development Fund is helping to create jobs and diversify the economy by encouraging regional businesses to pursue innovation and new markets. The fund was the model for the successful Southwestern Ontario Development Fund. Together these two funds are helping to create and retain more than 42,000 jobs and attract more than $1.9 billion in investment.
The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources. This leveraging of private sector investment provides enhanced value for taxpayers.
Attracting new investment to Eastern Ontario is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.