Ontario Welcomes $9.6 Million Manufacturing Investment
PWO Canada’s expansion will create good-paying jobs in Kitchener
The Voice of Canada News:
The Ontario government is welcoming a $9.6 million investment by PWO Canada, the first international subsidiary of German auto parts manufacturer PWO Group. The investment will be used to add a new assembly line to the company’s Kitchener facility and create 27 new, good-paying jobs.
“We continue to grow Ontario’s automotive and manufacturing sectors thanks to companies like PWO Canada,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through our Regional Development Program, our government is creating the right conditions for manufacturers to expand and create new jobs. Thank you, PWO Canada, for strengthening your presence in Ontario.”
With their $9.6 million investment, PWO Canada will install a new assembly line with state-of-the-art technology. This new technology will increase production and add more automation that will lower-costs and make the company more competitive. To support this investment, Ontario will provide PWO Canada with nearly $1.5 million through our Regional Development Program’s Southwestern Ontario Development Fund.
“This support provides not only the financial resources needed for progress and development, but also the confidence enabling growth in Ontario, keeping talents from Waterloo Region here in our community,” said Andreas Haas, CEO of PWO Canada Inc. “The confidence that protects the needs of future generations and respects our planet and the assurance that our endeavors are backed by the support and trust of our government leaders. We extend our gratitude to the government for recognizing the potential within our company which is a great recognition of the tireless efforts and countless hours invested by our professional and dedicated team.”
Ontario is investing $140 million through its Regional Development Program to help manufacturers across the province grow and create new, good-paying jobs. To date, Ontario has provided over $110 million to support more than 90 projects through the program, leveraging over $1.1 billion in new investments and helping to create more than 2,200 jobs. Applications for the latest round of the Regional Development Program’s Southwestern Ontario Development Fund are open until October 5, 2023.
Quick Facts
The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. 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. It supports advanced manufacturers across the province, including those in the automotive, aerospace, chemical, life sciences and steel sectors, to invest in the equipment, advanced technologies and the skilled workforce needed to improve competitiveness and growth, and to create and retain jobs across the province.
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
“After years of the former Ontario government losing jobs and driving away investment, I am pleased that another company is expanding their operations in our community. We will continue to deliver on our promise to bring more jobs to Kitchener and the Region of Waterloo.”-Mike Harris, Member of Provincial Parliament for Kitchener–Conestoga
“I’m very pleased to see the continued partnership between our government and regional businesses like PWO. The Southwestern Ontario Development Fund exists to help create jobs, diversify the economy, and support innovation. This expansion of PWO Canada’s production capacity is a great example of provincial government and regional business working in tandem for a better Ontario. This project will bring a further 27 jobs to Kitchener, and I’m so appreciative of PWO Canada’s ongoing investment right here Waterloo Region.”-Jess Dixon, Member of Provincial Parliament for Kitchener South–Hespeler
“This significant investment by PWO at its Kitchener facility is terrific news for our region, one of the strongest economic areas of our country. The creation of 27 new, good-paying jobs is positive news for job seekers hoping to work and raise families in Waterloo Region. I am proud to be part of a government that is committed to supporting workers and building a stronger Ontario. Thank you to the team at PWO.”-Brian Riddell, Member of Provincial Parliament for Cambridge
“For more than 25 years, PWO has believed in Ontario’s and Kitchener’s manufacturing opportunities. Today’s announcement by the province and PWO of further investments in the local plant’s innovation and growth is a major vote of confidence in the local team. That will help create more jobs and further bring our Make-It-Kitchener strategy to life!”- Berry Vrbanovic, Mayor of Kitchener
“I am very happy to celebrate PWO Canada’s continued success in Waterloo Region. This is a very forward-looking company that continues to grow thanks to a relentless pursuit of innovation. They are a fantastic representation of our manufacturing community. Kudos to Andreas Haas and the whole PWO Canada team — I can’t wait to see what they do next.”- Tony LaMantia, President and CEO Waterloo EDC
