FedDev Ontario provides $6.3 million in funding to four local firms
Monday, November 9, 2020
The Windsor Star/Dave Waddell
Four area companies have received a combined $6.3-million in repayable funding from FedDev Ontario to support their expansion that will result in the creation of 80 local jobs.
Receiving the funding were Pancap Pharma Inc. ($3.5 million), Crop Defenders Ltd. ($899,000), Hawk Plastics Ltd. ($880,372), and Whitfield Group ($1 million).
The zero interest loans are to be paid back over 10 years.
“Today’s announcement is proof of our Government’s commitment to support our manufacturers through this challenging time,” said Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario.
“We know that by investing in these four manufacturers, they are creating good quality jobs for people in the Windsor-Essex region and supporting the local economy.
“Our message to Canadian business owners and workers is clear: we’ve long supported the manufacturing industry, we’ve been here for you with immediate measures during the COVID-19 crisis and we will continue to work with you to support good jobs and help Canadian manufacturing come back strong.”
The federal government investments will result in more than $22.4 million in additional investments in Windsor-Essex as part of the firms’ expansions and scaling up plans.
More to come