The federal government has announced a $3.5 million investment aimed at boosting the manufacturing sector in southern Ontario, which includes the Waterloo Region.
Evan Solomon, the Minister of Artificial Intelligence and Digital Innovation and the minister responsible for the Federal Economic Development Agency for Southern Ontario (Fed Dev Ontario), revealed this news on Wednesday morning regarding Voltera Inc., a company based in Waterloo.
Voltera, known for its electronics printing machines, will be awarded $1.7 million to enhance its production capabilities internally, allowing it to better meet global demand.
Solomon addressed the media and local leaders present, emphasizing that investing in companies like Voltera is essential for Canada to stay competitive economically.
“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 connection between tech innovations coming from the University of Waterloo and local tech firms that have established themselves there.
He mentioned that Canada should adopt this successful model across different sectors nationwide.
“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 during Wednesday’s announcement and expressed enthusiasm about what’s unfolding in 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 other company benefiting from Wednesday’s announcement is Blake Medical Group Inc., which will receive $1.9 million to expand its operations in Brantford. The funds will be used to acquire advanced equipment for their smart medical mattress line while helping them bring key material sourcing in-house and open up new international markets.
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