Lucas Bruzzese mentions that his business dropped by 10 percent after the Trump administration imposed a new 50 percent tariff on Canadian goods.
Bruzzese, who is the CEO of Canadian Metal Buildings, a manufacturer based in Hamilton, stated, “we went from about 10 per cent of our business being servicing American clients to nothing.”
He realized he needed to refocus his company’s efforts within Canada and sought assistance from the federal government through the Regional Tariff Response Initiative.
Canadian Metal Buildings was named as one of nine businesses in the Hamilton area that will share $12.5 million announced on Monday.
“It’s fantastic news,” he expressed. “It’s a tremendous relief especially for the ongoing hard times that we’re facing.”
Bruzzese noted that this federal funding would enable them to expand throughout Canada and possibly enter international markets.
On Monday too , Solomon visited Roustan Hockey’s production facility situated at Brantford Ont., where traditional wooden sticks have been crafted since back during earlier parts century ; this legacy has helped preserve its status surviving globalization challenges making it sole commercial provider still operating North America producing classic versions today!
In their official statement released following visit representatives remarked:”as stewards overseeing only existing commercial factory manufacturing hockey sticks located within country ; we truly value every bit support received thus far coming directly from Canadians alongside interest generated via governmental agencies!”
The announcement encouraged fellow Canucks alike consider purchasing locally made goods stating each purchase supports local communities ensures bright future sports played nationwide!
Source link
More than $12.5M for Hamilton businesses
The Federal Economic Development Agency for Southern Ontario Minister Evan Solomon unveiled these investments on Monday at Niko Apparel Systems in Hamilton, another company benefiting from the funding. The other seven companies receiving support are Automation Design and Installation Inc., Biederman Enterprises Ltd., FELLFAB Limited, Hooper Welding Enterprises Limited, Max Aicher North America, Whitebird/Moyy, and Superior Radiant Products Ltd. “Each business is pivoting and committed to serving our Canadian people, continuing to be the lifeblood of our economy,” Solomon remarked. According to Solomon, these investments will be repayable and aimed at helping companies cope with tariff pressures while strengthening domestic manufacturing and supply chains to create opportunities. “We are increasing the maximum non-repayable contribution from a million to 3 million because businesses need it for growth,” Solomon added. On August 22nd, the U. S. imposed 50 percent tariffs on around $28 billion worth of Canadian exports heading into America. Prime Minister Mark Carney subsequently announced Canada would respond with matching tariffs starting September 8th. Lucas Bruzzese, CEO of Canadian Metal Buildings, says he is ecstatic after being one of the nine businesses in Hamilton to receive over $12.5M in federal supports. (Jeffery Tram/CBC) As part of Monday’s announcement, half of a $400,000 project from Niko Apparel-a Canadian-owned producer of technical apparel-will go towards upgrading equipment and enhancing workforce skills with federal investment. Joe Camillo, president of Niko Apparel, mentioned that this funding would help make their company more competitive both in Canada and internationally while maintaining production in Hamilton. “Without export, without our ability to compete worldwide, we can’t provide the lives that I think our citizens need in this area,” he noted.‘We’re going to build’
Solomon emphasized that the federal government aims to support businesses amid uncertainties caused by trade disputes while continuing investment efforts. “We’re here to protect our country, our community, our democracy, our businesses, our entrepreneurs, our workers,” he explained. He likened the trade dispute to a hockey game; saying although Canada might currently be engaged in a “scrap” with the United States now will eventually return as partners again later on. “But in the meantime we’re not going to bend or break; we’re going to build,” he stated confidently. The companies getting funded are opting for investment despite uncertain circumstances. “All these companies.. are investing because their vision focuses more forward than back,” Solomon remarked further. The federal government shared last week about a new package worth $7.5 billion meant as additional measures supporting both Canadian workers along with local firms; this adds onto nearly $25 billion already provided since those U. S. tariffs started rolling out. The government indicated it will also invest an extra $1.5 billion into its Regional Tariff Response Initiative beginning next month while liquidity assistance could reach up until about two million dollars. This approach isn’t merely defensive,” Solomon said,. “It’s about absorbing shocks , building resilience , and pursuing growth.” Bruzzese hopes they come out stronger after weathering today’s unpredictable climate within business circles.<p“There's plenty opportunity waiting right here across all sectors within Canada,”he commented.”That’s exactly what we’re focused upon doing : servicing demands & boosting capacities!” </sr.Solomon tours Roustan Hockey in Brantford , Ont.
On Monday too , Solomon visited Roustan Hockey’s production facility situated at Brantford Ont., where traditional wooden sticks have been crafted since back during earlier parts century ; this legacy has helped preserve its status surviving globalization challenges making it sole commercial provider still operating North America producing classic versions today!
In their official statement released following visit representatives remarked:”as stewards overseeing only existing commercial factory manufacturing hockey sticks located within country ; we truly value every bit support received thus far coming directly from Canadians alongside interest generated via governmental agencies!”
The announcement encouraged fellow Canucks alike consider purchasing locally made goods stating each purchase supports local communities ensures bright future sports played nationwide!
Source link
