The federal government has revealed a $3.5 million investment aimed at the manufacturing industry in southern Ontario, including Waterloo Region.
Evan Solomon, Minister of Artificial Intelligence and Digital Innovation as well as the minister responsible for the Federal Economic Development Agency for Southern Ontario (Fed Dev Ontario), announced the funding for Waterloo-based Voltera Inc. on Wednesday morning.
Voltera, which focuses on electronics printing machines, will receive $1.7 million to enhance its in-house production capabilities, allowing it to better meet global demand.
Solomon addressed the media and local leaders, emphasizing that investing in companies like Voltera is essential for maintaining Canada’s economic strength.
“We are in a crisis. We are in a trade war. This is the sharp end of the spear here, and people are feeling it. They’re feeling right here in your community here, in this Region here, hard hit by tariffs. So, the innovation and jobs you’re creating are more important than ever.”
The minister also commended the collaboration between the University of Waterloo and tech firms that have established themselves in the area.
He suggested that other regions across Canada should adopt this successful model.
“If we don’t build like Waterloo is building, get the talent, get the frontier research, get the innovation ideas, and then bridge it to commercialization. And then as you commercialize, seed funding, series A, series B-the whole value chain-so then they can actually start making manufacturing jobs here. Now that’s the future, and Waterloo is doing it. That’s the secret sauce.”
Waterloo MP Bardish Chagger was present at Wednesday’s event and mentioned how exciting these times are for Waterloo.
“It’s fascinating to see what’s happening within our country but also right here in Waterloo. And I often say ‘As much as the world needs more Canada, Canada needs more Waterloo,’ because we make things happen here and we make them here.”
The second company benefiting from Wednesday’s announcement is Blake Medical Group Inc., which will receive $1.9 million to expand its operations in Brantford. The plan includes purchasing advanced equipment for their smart medical mattress line to help bring key material sourcing in-house while also accessing new international markets.
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