Ontario Welcomes $8.4 Million in Manufacturing Investments
Local manufacturers expanding to create 30 good-paying jobs in Cobourg
The Ontario government is welcoming two new investments totalling $8.4 million by Cobourg manufacturers Beneco Packaging and Custom Plastics International Limited. These investments will increase the production of made-in-Ontario products and create 30 new, good-paying jobs in Cobourg.
“With over 820,000 workers, manufacturing employment in Ontario is now at its highest level since December 2008,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We continue to create the right conditions for local manufacturers to grow and create more good-paying jobs in communities across the province. Thank you, Beneco Packaging and Custom Plastics International Limited, for choosing Ontario and contributing to our growing manufacturing sector.”
Beneco Packaging, a wholesale packaging firm, is investing $7 million to purchase new automated equipment that will expand their product line and increase and speed up production. The new equipment will help the company meet growing domestic and international demand for a wide range of packaging products. As part of this investment, Beneco Packaging will receive $500,000 in funding through the Regional Development Program’s Eastern Ontario Development Fund.
“The Eastern Ontario Development Fund is significantly boosting our growth, enabling operational expansion and rapid response to customer demands,” said Carol Jiang, President of Beneco Packaging. “This support is facilitating the integration of cutting-edge technology, enhancing efficiency, while advanced training programs empower our workforce and amplify regional economic vitality.”
In addition, Custom Plastics International Limited, a family-owned, injection molding company, is investing over $1.4 million to add new production lines and automation to their Cobourg facility. The new lines and automated equipment will increase productivity and efficiencies and help the company expand to new markets. As part of this investment, Custom Plastics will receive $217,050 in funding through the Regional Development Program’s Eastern Ontario Development Fund.
“Custom Plastics is excited to announce that we are receiving support from the Regional Development Program to embrace automation and enhance efficiency on the factory floor,” said Jim Majury, Vice President and General Manger at Custom Plastics. “This investment will enable us to design flexible automation cells that can be used throughout the plant, promoting efficiency and adaptability. Our investment in collaborative robots is yielding improved throughput and efficiencies while promoting safety and improving job satisfaction for our employees.”
Ontario is investing $140 million through its Regional Development Program to help companies across the province grow and expand. To date, Ontario has provided over $100 million to support more than 90 projects through the program, leveraging over $1 billion in new investments and helping to create more than 2,100 jobs in the province. Applications for the latest round of the Regional Development Program’s Eastern Ontario Development Fund are open until October 5, 2023.
The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Through this program, businesses and municipalities can get financial support and guided access to a range of complementary services and supports.
In 2022, the government launched the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program. This stream supports Ontario advanced manufacturers across the province, including those in the automotive, aerospace, chemical, life sciences and steel sectors, to invest in the equipment, technologies and skilled workers they need to grow, improve competitiveness and create jobs. Applications are open until September 14.
As part of the 2023 Ontario Budget, the government introduced the Ontario Made Manufacturing Investment Tax Credit, which provides a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
Quotes
“The Regional Development Program’s Eastern Ontario Development Fund is critical to Ontario’s workforce and manufacturing industries. The Ontario government is proud to support local manufactures, like Beneco Packaging and Custom Plastics International Ltd as they expand and create better-paying jobs for workers in our community. “-David Piccini, MPP for Northumberland – Peterborough South
