Ontario Strengthening Economic Growth in Cambridge
Province Partners with DESCH Canada to Create Jobs and Support Local Economy
Ontario is partnering with DESCH Canada Ltd. to create 30 new jobs and retain 35 existing positions in Cambridge.
Kathryn McGarry, MPP for Cambridge, made the announcement today at DESCH Canada Ltd. on behalf of Jeff Leal, Minister Responsible for Small Business.
DESCH Canada Ltd. is a market leader in drive technologies and manufacturer of power transmission products for niche markets. The company makes and distributes industrial machinery parts including clutch and brake combinations, gearboxes and crankshafts.
With support from the Southwestern Ontario Development Fund, DESCH Canada is expanding its facility and purchasing new equipment to manufacture a new industrial transmission system for heavy duty trucks. With these enhancements, the company is further strengthening its competitiveness and expanding into global markets.
Supporting advanced manufacturing in southwest Ontario is part of Ontario's plan to create fairness and opportunity during this period of strong economic growth. The plan includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25 through the biggest expansion of medicare in a generation.
- DESCH Canada Ltd. is an affiliate of DESCH Antriebstechnik GmbH & Co. KG in Germany.
- Ontario is investing $1,008,200 from the Southwestern Ontario Development Fund, supporting an additional investment of $11,641,800 million from DESCH Canada. The project will create 30 new jobs, help to retain 35 existing positions and is expected to be completed by December 2021.
- Since 2013, the Southwestern Ontario Development Fund and Eastern Ontario Development Fund have helped to create and retain 48,000 jobs and have attracted approximately $2.3 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.
- Ontario is accepting applications for the Southwestern 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, $650-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.
“Our government is partnering with DESCH Canada to help them adopt innovative new technologies and grow their international business, creating new jobs and opportunity in Cambridge. Our support for the advanced manufacturing sector in southwestern Ontario is just one of the ways we’re helping companies like DESCH boost their competitiveness and strengthen local economies for many years to come.”
“We are happy to support innovative businesses like DESCH Canada, which is an important employer in Cambridge. This investment will create new jobs and help boost our economy. I look forward to seeing the positive impact this project will bring to the people of Cambridge.”
“At DESCH Canada, we always strive to be a leader in innovation and advanced manufacturing. This investment will help us achieve our growth plan, while creating highly skilled jobs in Cambridge, and strengthening the regional economy and Ontario as a whole.”