Press Release Summary = The Ontario government is supporting an industrial research and development Centre of Excellence that will boost innovation and create jobs in the Guelph area, through a $2.48 million loan to Skyjack Inc., Economic Development and Trade Minister Sandra Pupatello has announced.
Press Release Body =
Investment Update May 2007
ONTARIO GOVERNMENT SUPPORTS INDUSTRIAL RESEARCH AND DEVELOPMENT CENTRE OF EXCELLENCE AT GUELPH MANUFACTURER Advanced Manufacturing Investment Strategy Boosts Innovation, Creates Jobs At Skyjack Inc.
The Ontario government is supporting an industrial research and development Centre of Excellence that will boost innovation and create jobs in the Guelph area, through a $2.48 million loan to Skyjack Inc., Economic Development and Trade Minister Sandra Pupatello has announced.
"We are partnering with Ontario's most innovative companies to generate new jobs and investment in the province," said Pupatello. "Our government will continue to take proactive and strategic action to safeguard the long-term success of Ontario's manufacturing industry."
Skyjack Inc. is a division of Linamar Corporation's Industrial Group and manufactures mobile aerial work platforms. Total investment by the company and the province is $24.79 million, with the project expected to create the equivalent of 358 new positions over five years.
"The Centre of Excellence will allow us to enhance our product line of aerial work platforms and strengthen our position as a world leader in the design and manufacture of innovative mobile industrial products," said Linamar CEO Linda Hasenfratz. "This investment is great news for Skyjack and the entire Linamar Corporation. By enhancing the diversity of our product offerings and focussing on research and development, we will continue to grow our business."
The project will focus on the development of a new line of boom lifts and telehandlers, which are used for work applications where reach and extension are required. This represents a growing market for the company best known for its scissor lifts, which are used for elevated or overhead work. The project also includes the construction of a new test track for the prototyping and testing of new products.
Provincial support is being provided under round two of the government's Advanced Manufacturing Investment Strategy. The $500-million strategy provides repayable loans, interest free for up to five years, to support investments in technology and innovation. As part of the 2007 Ontario Budget, project thresholds were reduced to enable even more companies to benefit from the program.
"With this announcement, our Advanced Manufacturing Investment Strategy has invested in eight projects that will generate over $370 million in new investments and support the creation or retention of more than 3,000 jobs," said Pupatello. "The re-tooled program will lift even more companies to the next level of innovation."
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For more information, contact:
Ray Lancashire, Media Relations, Invest Ontario Ministry of Economic Development and Trade 900 Bay Street, 5th Floor, Hearst Block, Toronto, Ontario M7A 2E1 Tel: (416) 326-1608 Fax : (416) 314-4589 E-mail: ray.lancashire@ontario.ca
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