Promising a bright future, Ontario's deputy premier announced a major investment in a London auto parts manufacturer.
London North Centre MPP Deb Matthews says the province is giving $282,000 to Canada Tubeform. She says it's a move that will create ten new jobs and secure 46 existing positions.
The announcement was made Friday at the Canada Tubeform facility on Innovation Dr.
"I spoke to one woman who worked in a plant that had closed but found a new opportunity here," says Matthews. "That is exactly the kind of story I like to hear because the manufacturing sector in southwestern Ontario has taken a real hit and it's great to know that people have been successful in transitions to new opportunities. We hear a lot about the closures, we don't hear enough about the growth."
Canada Tubeform, which opened in 2001 with only three employees, manufactures metal tubes for automotive giants GM, Chrysler, and Honda. It has seen three expansions since 2006.
In addition to hiring more staff, the company will also use the money from the Southwestern Ontario Development Fund to further expand its 55,000 square foot facility and develop and purchase new design equipment.
Company President Dave Hewitt attributes the province's choice to invest in the company to its stellar track record and partnership with a broad range of auto makers.
"Diversification is key. It helps to create that stability, it helps to create security," says Hewitt.
The provincial government created the fund as part of a four-part plan to support the region's economy.
"It's a highly competitive world that we are living in and Ontario companies need to be able to compete globally," says Matthews. "That means they have to make investments in productivity, like the latest kinds of machines, in order to be successful. It's a fiercely competitive world and our companies are stepping up to be successful internationally."