Ontario Supporting 4,700 Jobs in Hamilton's Steel Industry
Province Partners with ArcelorMittal Dofasco to Keep Hamilton as Strong as Steel
Ontario is partnering with ArcelorMittal Dofasco to support stability in the steel industry, maintain low costs for the North American market and keep 4,700 jobs in Hamilton.
Cristina Martins, Parliamentary Assistant to the Minister of Economic Development and Growth, made the announcement today at the company's headquarters in Hamilton.
ArcelorMittal Dofasco is Canada's largest steel producer and ships more than 4.5 million net tons of steel every year to top automotive, energy, packaging and construction companies.
With support from Ontario's Jobs and Prosperity Fund, the company is investing in a Hot Mill modernization project that will significantly improve their plant in Hamilton with state-of-the-art equipment, positioning Dofasco for future growth. These upgrades will help the company to produce and sell higher value products and will strengthen Dofasco's operations in Ontario and allow the company to offer higher-quality products at lower costs to the North American market.
Supporting good jobs and helping companies modernize is part of the government's plan to support care, create opportunity and make life more affordable during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and free preschool child care from 2 ½ to kindergarten.
- Ontario is providing a grant and loan combination totalling $22.7 million through the Jobs and Prosperity Fund to ArcelorMittal Dofasco. This is part of a larger overall investment by the company valued at $151 million. The project is scheduled for completion in December 2022.
- The investment will support Ontario’s steel supply chain and broader manufacturing sector, in particular Ontario’s 400-km automotive corridor with direct impacts on five auto assemblers and over 1,200 auto parts suppliers tool, die and mould makers. The North American automotive market accounts for a significant share of Dofasco’s sales.
- More than 70 per cent of Canada’s steel production capacity is located in Ontario. Our steel industry directly employs 16,000 and indirectly employs almost 53,000 in the province.
- Hamilton is an important steel cluster and globally recognized R&D and commercialization hub focused on steel products supporting thousands of high paying manufacturing jobs as well as the local economy.
- The Jobs and Prosperity Fund helps secure private sector investment in Ontario, allowing the government to partner with businesses that are creating jobs and enhancing productivity, innovation and exports. Every dollar invested through the fund leverages an average of $10 in private sector investments. Since January 2013, Ontario has committed over $900 million in projects administered under JPF, leveraging over $11.5 billion in total investment. This is helping to create and retain approximately 48,000 jobs.
- Since 2007, Ontario has announced repayable and non-repayable support of over $90 million that will leverage over $680 million in productivity and innovation investments in the province’s steel industry.
“This support for ArcelorMittal Dofasco will keep good jobs in Ontario, help grow our economy and make sure Hamilton stays as strong as steel. We think it’s crucial that Ontario companies have the support they need to stay competitive, and we’ll continue to do everything we can to support them, and their workers.”
Steven Del Duca
“The steel industry is a major contributor to the economic growth of the Hamilton region and the broader manufacturing sector in Ontario. We are pleased to support the next phase of ArcelorMittal Dofasco’s evolution, which will boost the North American market and maintain stable jobs for thousands of employees.”
“This is a great day for Hamilton and for our steel industry. This investment will go a long way to ensuring that great jobs stay here, and that Hamilton steel will reach more consumers in more places in North America.”
“Our Hot Mill Modernization is one of several projects in our portfolio that are pushing our company’s process and product capability to the forefront of material science, ensuring Hamilton and Ontario’s continued leadership in this sector. We thank the Ontario government for its support for steel and look forward to continuing to take a leadership role in advanced manufacturing in the Province of Ontario.”