A manufacturer in St. Thomas is set to receive a $3.7-million boost to enhance its operations and maintain jobs for its workers, according to the area’s MPP.
Forest City Castings Inc., which specializes in precision graphite molding, will utilize these funds to ramp up production capacity and explore new markets, thereby securing the positions of its 42 employees while creating five additional jobs, Rob Flack, Progressive Conservative MPP for Elgin-Middlesex-London, mentioned in a statement on Thursday.
The company plans to invest $3.2 million itself, with the Ontario government contributing a $500,000 grant, as stated by Flack’s office.
“Forest City Castings’ investment will support growth and innovation across the local manufacturing sector and create more good-paying jobs for workers and families in Elgin-Middlesex-London,” Flack said.
This funding will allow the manufacturer to incorporate cutting-edge technology and equipment for producing metal castings used in medical, defence, robotics, and advanced technology industries.
<p“It will enable the company to improve efficiency and innovation and grow its export business,” Devin Mc Rae, president of Forest City Castings, said in a statement.
“By investing in new equipment, we will expand our ability to serve customers across multiple industries while supporting job growth and maintaining our skilled workforce in St. Thomas,” Mc Rae said.
The government’s $500,000 contribution comes from the Regional Development Program’s Southwestern Ontario Development Fund (SWODF).
“Ontario’s manufacturing sector is the economic engine of our nation,” Vic Fedeli, Ontario’s economic development minister, stated. “Our government is proud to support local companies like Forest City Castings as they expand their operations.”
The government has committed over $230 million through its Regional Development Program to assist manufacturers throughout the province. According to Fedeli, it has financed more than 180 projects via this program that have created over 5,500 jobs.
The Regional Development Program was initiated in 2019. This program provides businesses and municipalities with financial aid along with access to various complementary services.
In September, the Ontario government announced an $8-million loan for Element5-a timber products manufacturer based in St. Thomas-for its $107-million expansion project.
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Editor’s note: This story has been updated to reflect the accurate value of investment into Forest City Castings.
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