Canada's Economic Action Plan helps Orillia seating manufacturer expand
business

ORILLIA, ON, Jan. 28 /CNW/ - Sheridan Seating Inc. will expand its manufacturing operations, thanks to an Economic Action Plan investment of $312,500. The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), made the announcement today at the company's headquarters in Orillia.

"This investment will allow Sheridan Seating Inc. to strengthen its business and increase its competitiveness by manufacturing a new product," said Minister Goodyear. "Our government is committed to creating jobs and supporting the people, communities and businesses of Southern Ontario."

"It is important that local businesses in Orillia have the tools and resources they need to excel in local and international markets," said MP Stanton. "Our government's investment will spur economic stimulus and allow Sheridan Seating to grow, attracting investment for our community and the surrounding area."

Funding will come from the Southern Ontario Development Program (SODP) and will help Sheridan Seating Inc. expand its operations to manufacture seat cushions for platform seating. The expansion project will involve acquiring a separate building to hold foam padding and covering materials, as well as purchasing and installing equipment. The expansion of Sheridan Seating's facilities will provide immediate local economic stimulus through job creation and by replacing imported materials with locally made products. This project is expected to create 15 new jobs.

"Thanks to assistance from the Southern Ontario Development Program, we will expand our facilities to develop a Canadian-made product that will be sold throughout the world," said Richard Sheridan, CEO of Sheridan Seating Inc. "By developing our products locally, we will lower international transportation costs and thereby reduce our overall carbon footprint."

This is among more than 60 projects the Government of Canada intends to support with a contribution of nearly $63 million through the general intake of the SODP.

For additional details on the Southern Ontario Development Program, please refer to the backgrounder, visit the FedDev Ontario web site at www.southernontario.gc.ca, or call 1-866-593-5505. For additional information on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

This news release is available online at: www.southernontario.gc.ca and www.actionplan.gc.ca.

    
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                                 Backgrounder
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                 Southern Ontario Development Program (SODP)
    

Announced in Canada's Economic Action Plan, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) was established to deliver federal economic development programs to support the priorities of workers, businesses and communities in Southern Ontario. Budget 2009 allocated $1 billion over five years for the new Agency.

The Southern Ontario Development Program (SODP) was established as a core program of FedDev Ontario. It will build upon the assets and strengths of communities to create an environment where businesses can thrive and maximize southern Ontario's potential to succeed in the knowledge-based economy.

Funding under this program will go towards projects that can stimulate local economies and enhance the growth and competitiveness of local businesses and communities. Approximately $100 million has been allocated to the SODP in 2009-10, including the following:

    
    -  Nearly $63 million through a general intake process;
    -  $20 million through an intake for the food and beverage processing
       sector;
    -  $15.75 million for the Canadian Manufacturers and Exporters' (CME)
       SMART Program to fund an estimated 300 projects that will help
       small- and medium-sized manufacturers increase their productivity and
       competitiveness in the global economy; and
    -  $1.6 million for the Ontario Chamber of Commerce's Export Market
       Access Program to help southern Ontario businesses that would like to
       increase their sales internationally.
    

For more information, please visit the FedDev Ontario website at www.southernontario.gc.ca or call 1-866-593-5505.

SOURCE FEDERAL ECONOMIC DEVELOPMENT AGENCY FOR SOUTHERN ONTARIO

For further information: For further information: Gary Toft, Director of Communications, Office of the Honourable Gary Goodyear, (613) 943-7599; Media Relations, FedDev Ontario, (613) 954-5543


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