Ontario is partnering with Ferrero Canada Ltd. to expand its product line and pursue new markets, creating 55 new jobs and retaining 831 jobs in Brantford.
Ferrero Canada manufactures and distributes confectionery products that include Ferrero Rocher, Nutella, Tic Tac, Kinder Surprise and Raffaello. With $1.5 million in support from the Southwestern Ontario Development Fund, the company will invest in innovative technology to expand its business. Ferrero Canada will use a new manufacturing process to make three additional products at its Brantford plant to sell in markets across North America. The project has a total value of over $36.1 million and is expected to be completed by August 2017.
The Southwestern Ontario Development Fund is helping to create jobs and diversify the economy by encouraging regional businesses to pursue innovation and new markets. It was modelled on the proven Eastern 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 Southwestern 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 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 infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario’s history and is 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.
Source: Ontario Ministry of Economic Development and Growth