Ontario Invests In Motor Production Facility
McGuinty Government Joins Forces With GE Canada
Ontario is helping GE Canada improve the design, production and process capabilities at its Peterborough-based motor production facility.
Building on a Memorandum of Understanding (MOU) signed by Ontario and GE in September 2009, the province is investing $15 million over five years, while GE Motors is planning to invest up to $100 million over five years, to strengthen its Peterborough facility's position as a global centre of excellence that will pursue new green technologies for Canadian and international customers.
The project will create or help retain 100 jobs, increase capacity for anticipated market growth and reduce the facility's carbon footprint.
The investment comes from the Next Generation of Jobs Fund, a $1.15 billion business incentive program designed to create and protect jobs for Ontario families. Partnering with businesses is a key component of the Ontario government's five-point plan to grow the economy.
- In September 2009, GE signed a MOU with the government of Ontario to strengthen GE's footprint in the province and increase long-term investments.
- GE Canada has $11.3 billion in assets and employs approximately 5,200 people in Ontario.
- GE Canada has had a presence in Peterborough since 1891, and employs approximately 1,000 people in the facility including management, engineers and skilled labour.
“Having recently signed a Memorandum of Understanding with GE, today's announcement provides further proof that GE is strengthening its presence in Ontario. By forging partnerships with global giants like GE, we're creating high-value jobs, attracting new investment to the Peterborough area and helping Ontario reduce its carbon footprint.”
“This is good news for our community and especially for the employees of GE Canada's Peterborough-based motor production facility. We're also working to create new green jobs and helping better position Ontario in the new economy.”
“Investments in new technology are essential if we want to remain competitive. With support from the Ontario government, GE Motors is enhancing its capabilities, increasing its productivity and developing new products for global markets.”