Ontario Newsroom

Ontario Investing In Northern Iron And Steel Manufacturer

Archived Bulletin

Ontario Investing In Northern Iron And Steel Manufacturer

Provincial Programs Join Forces To Help Local Manufacturer Expand

TEMISKAMING SHORES - The McGuinty government is supporting the growth of the northern iron and steel fabrication industry by investing in upgrades to facilities at Wabi Iron and Steel Corp. in New Liskeard.  The announcement was made today by Northern Development and Mines Minister Rick Bartolucci and Timiskaming-Cochrane MPP David Ramsay.

"I am delighted that our government is helping this company retain and grow jobs in our community," said Ramsay. "This investment is a prime example of the McGuinty government's unwavering commitment to building opportunity and prosperity in Northern Ontario."

The province is investing $1 million from the Northern Ontario Heritage Fund Corporation (NOHFC) and $1.5 million from the Northern Ontario Grow Bonds Corporation toward the cost of modernizing laboratory, fabrication, foundry and environmental improvement equipment and building repairs and modifications at Wabi Iron and Steel. This project has helped create some 13 new jobs to date, bringing the workforce at Wabi Iron and Steel to more than 130 employees.

"Our government is helping to ensure the northern manufacturing sector has the resources it needs to grow and remain competitive in the global economy," said Bartolucci, who is also chair of the NOHFC. "The McGuinty government's investments in the northern private sector are important components of our plan to enrich northern communities by supporting new and established businesses and by creating new jobs."

The Government of Ontario launched the Northern Ontario Grow Bonds Pilot Program in 2005 to invest in private sector job and business growth in Northern Ontario. Northerners purchased nearly $13 million in bonds, which is being invested in small and medium-sized business in the North.  

This is just one more example of how, working together, Ontarians have achieved results in the North.  Other examples include:

•    Investing more than $10.9 million toward road repairs and to replace the Highway 566 timber bridge in Matachewan

•    Investing more than $1.8 million in the establishment of the Tri-Town Northconnex Communications Centre in New Liskeard

•    Providing $168,500 to expand the Englehart Animal Hospital through the NOHFC's Enterprise North Job Creation Program.

These initiatives are part of the government's Northern Prosperity Plan for building stronger northern communities. The plan has four pillars: Strengthening the North and its Communities; Listening to and Serving Northerners Better; Competing Globally; and Providing Opportunities for All.


Laura Blondeau
Minister's Office - Sudbury
(705) 564-7454    

Sharon Tansley
MNDM/NOGBC - Sudbury
(705) 564-7115

Share

Tags

Business and Economy Jobs and Employment