March 15, 2016
Over 100 jobs to be created in New Hamburg and Guelph thanks to $6.6 million from FedDev Ontario
Combined funding of up to $6.6 million is going to the Hammond Manufacturing Company and Ontario Drive & Gear Limited to enhance technologies, boost productivity, generate job growth and increase business and export opportunities.
It means about 115 new jobs at the two companies.
The announcement was made Tuesday by Waterloo’s Bardish Chagger, Minister of Small Business and Tourism, alongside Lloyd Longfield MP for Guelph.
“Our investments in the Hammond Manufacturing Company and Ontario Drive & Gear demonstrate our continued support for southern Ontario’s manufacturers and producers” says Chagger. “Today’s announcement reinforces our commitment to growing our local economy by enhancing productivity for our manufacturers, supporting job creation and helping businesses reach export markets.”
The Hammond Manufacturing Company in Guelph received an investment of up to $3.46 million from FedDev Ontario, to buy equipment, improve processes, support expansion to a new facility and make modifications at both the new and the existing facility.
Ontario Drive & Gear Limited in New Hamburg got $3.14 million to purchase new gear manufacturing equipment, expand its engineering department by 10,000-square feet and advance new product lines.
“Today’s announcement is a prime example of how we are creating strong businesses and sectors to support increased productivity and innovation.” said Longfield.