Ontario Partnering with Cam Tran to Create Jobs
Province Investing in Advanced Manufacturing in Colborne
Ontario is partnering with Cam Tran Co. Ltd. to expand its facility and invest in new technology, creating 10 new jobs and retaining 139 positions in Colborne.
Cam Tran manufactures and refurbishes transformers that are used by electrical utilities and private contractors. With just over $300,000 in support from the Eastern Ontario Development Fund, the company is adding 25,000 square feet to its production facility and purchasing advanced transformer winding and metal fabrication equipment. These enhancements will enable Cam Tran to work on larger transformers and win new industrial and commercial customers, particularly in the oil, wind and solar sectors. The project has a total value of just over $3 million and is scheduled for completion in the fall of 2016.
The Eastern Ontario Development Fund is helping to create jobs and diversify the economy by encouraging regional businesses to pursue innovation and new markets. The fund was the model for the successful Southwestern Ontario Development Fund. Together these two funds are helping to create and retain more than 42,000 jobs and attract more than $1.9 billion in investment.
The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources. This leveraging of private sector investment provides enhanced value for taxpayers.
Attracting new investment to Eastern Ontario is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest infrastructure investment in hospitals, schools, roads, bridges and transit in Ontario's history and is investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
- Cam Tran is a family-owned business founded in 1982. The company purchases approximately $20 million annually in goods and services from Ontario-based suppliers.
- Since 2008, the government has committed over $89 million through the Eastern Ontario Development Fund, leveraging private-sector investment of more than $840 million. These investments are helping to create over 3,800 new jobs and retain more than 14,700 existing jobs in the region.
- Ontario is accepting applications for the Eastern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
- Ontario’s five-year, $400-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.
“A cornerstone of Ontario’s economic strategy is helping businesses to scale-up and boost their competitiveness through increased innovation. This investment with Cam Tran illustrates these goals in action while also creating jobs and strengthening the provincial economy.”
“Innovative and ambitious companies like Cam Tran are essential for a diversified and resilient economy in eastern Ontario. Our government is working proactively with the business community to foster growth and create new job opportunities.”
“With this investment, Cam Tran further enhances our product range to offer even greater flexibility to meet our customers’ needs. Today’s announcement represents the latest chapter in the continual evolution of our Colborne-based team in defining industry standards for quality, service and lead times.”