Peterborough Manufacturer To Increase Production
McGuinty Government Investment Supports Local Manufacturer, Creates Jobs
Ontario is helping a Peterborough manufacturer expand its Canadian operations to gain more ground in the North American market and create jobs.
The province is supporting the expansion of McCloskey International Limited who will install equipment and renovate its facility, allowing them to start production of screening and rock crushing machines currently produced in Ireland. Moving production of equipment specifically designed for a North American market to Ontario will eliminate shipping costs and make the company more competitive. Ontario is contributing $654,000 through the Eastern Ontario Development Fund to support the project.
The provincial funding is helping create 50 new jobs over the next five years, and is part of a total investment by the company of more than $4.3 million. Partnering with business is a key component of the Ontario government's five-point economic plan to grow the economy.
- McCloskey produces heavy machinery including equipment used by topsoil producers, landscape contractors and quarry owners to screen and separate materials like rock.
- To date, and including this morning's announcement at McCloskey International, the Eastern Ontario Development Fund has committed over $14.8 million to 36 announced projects representing a total project investment of $96 million and the creation of 433 new jobs.
- In 2008, eastern Ontario's gross domestic product was approximately $66 billion, representing 12 per cent of the provincial total.
“McCloskey International's innovative approach has set many industry standards and continues to reflect a determination to provide quality equipment that best reflects the unique needs of their customer base. The McGuinty government is committed to working with the business community to create jobs for eastern Ontario families, and we are very proud to support their latest investment.”
“The investment from the Ontario government complements a similar federal government investment and allows us to gain an even greater share of the market in North America. It will help us to support the growing needs of companies involved in compost screening, waste recycling, construction, demolition, road maintenance, landscaping and wood recycling.”