McGuinty Government Announces $2.34 Million Investment Securing 170 Jobs For Brantford Workers



    
         Advanced Manufacturing Investment Strategy Boosts Innovation
                           At Koolatron Corporation
    

    BRANTFORD, ON, March 7 /CNW/ - Minister of Economic Development and Trade
Sandra Pupatello, together with Brant MPP Dave Levac, today announced a loan
of $2.34 million to Koolatron Corporation that will boost innovation and
support the creation or retention of 170 jobs.
    "Our government is partnering with Ontario's most innovative companies to
help bring new ideas to market and drive growth and investment," said Minister
Pupatello. "Ontario's long-term prosperity depends on our ability to be
innovation leaders and compete in a global, knowledge-based economy."
    "This is a win for Brantford, our workers and their families," said MPP
Levac. "Our government is making strategic investments that are helping
manufacturers transform their operations and boost competitiveness. With this
investment, the company is securing 170 high value jobs for our workers - jobs
that they can count on into the future."
    Support for the project is being provided under round two of the
government's Advanced Manufacturing Investment Strategy (AMIS). The
$500-million strategy provides repayable loans, interest free for up to five
years, to support investments in technology and innovation.
    Koolatron is investing in the development of new products, including a
large mobile cooler and cordless mosquito trap, using energy-efficient
thermoelectric power. Commercialization of these products will assist the
company grow its market share both at home and internationally. An AMIS loan
of $2.34 million supports a total investment of $23.4 million.
    "With today's announcement, our Advanced Manufacturing Investment
Strategy has supported six innovative projects that will generate almost
$245 million in new investments and support the creation or retention of some
2,500 jobs," said Pupatello. "Our government will continue to take proactive
and strategic action to safeguard the long-term success of Ontario's
manufacturing industry."
    The call for proposals for AMIS round three is now open with a submission
deadline of April 12, 2007. For further information, including eligibility
requirements and an application package, please visit www.ontariocanada.com
(click on the "Programs and Services" link).
    AMIS is part of the government's overall strategy for jobs and prosperity
that includes investments in infrastructure, postsecondary education, stable
energy supply, research and innovation and key economic sectors.

    Disponible en français

    
                            www.ontariocanada.com



    Backgrounder
    -------------------------------------------------------------------------

              INNOVATION KEY TO FUTURE OF ONTARIO MANUFACTURING
    

    Ontario's manufacturing sector

    Manufacturing underpins the provincial economy and employs about one
million people, representing some 16 per cent of Ontario's total employment.
In fact, among North American jurisdictions, Ontario is the second largest
employer in the manufacturing sector - only California has more manufacturing
employees. The Canadian Manufacturers and Exporters estimates that every $1 of
manufacturing output generates $3 in total economic activity.
    Domestic manufacturers face challenges stemming from a global industry
restructuring and increased competition from low-cost jurisdictions such as
China and India. Investments in research and development, advanced technology
and innovation are considered essential for Ontario manufacturers to compete
in this environment and secure the sector's long-term prosperity.

    Advanced Manufacturing Investment Strategy (AMIS)

    AMIS was launched in December 2005 to encourage companies to invest in
leading-edge technologies and processes that will increase productivity and
competitiveness. The $500-million strategy stimulates private sector
investment by offering loans, which are interest-free for up to five years,
covering up to 10 per cent of eligible project costs, to a maximum of $10 
million per project.
    AMIS is open to all manufacturing sectors for projects that have either a
minimum value of $50 million or create/retain 150 high-value jobs. The
strategy focuses on innovation, use of advanced technology or materials,
research and development, waste reduction and energy conservation.
    The call for proposals for AMIS round three is now open with a submission
deadline of April 12, 2007. For further information, including eligibility
requirements and an application package, please visit www.ontariocanada.com
(click on the "Programs and Services" link).
    The six projects announced so far under AMIS will generate almost
$245 million in new investments and support the creation or retention of
almost 2,500 jobs, over a five-year period:

    
    -   Koolatron Corporation, Brantford - Development of new products,
        including a large mobile cooler and cordless mosquito trap, using
        energy-efficient thermoelectric power. A loan of $2.34 million
        supports a total investment of $23.4 million (announced  March 7,
        2007).

    -   Flakeboard Company, Sault Ste. Marie - Development of new
        manufacturing processes and commercial applications for
        wood-alternative materials used in kitchen cabinets and furniture.
        A loan of $1.6 million supports a total investment of $16.0 million
        (announced March 1, 2007).

    -   FAG Aerospace Inc., Stratford - Capacity expansion project to enhance
        the manufacture of precision bearings for the aerospace industry. A
        loan of $1.78 million supports a total investment of $17.8 million
        (announced February 20, 2007).

    -   Diamond Aircraft Industries, London - Development of a single-engine,
        five-seat jet aircraft. A loan of $10 million supports a total
        investment of $106.4 million (announced June 23, 2006).

    -   Messier-Dowty Inc., Ajax - Development of a Landing Gear Systems
        Centre of Excellence. A loan of $5.08 million supports a total
        investment of $50.8 million (announced June 23, 2006).

    -   Procter & Gamble Inc., Brockville - Development of a new generation
        of quick-cleaning homecare products. A loan of $3 million supports a
        total investment of $30 million (announced June 23, 2006).

    AMIS is part of the government's overall plan for jobs and prosperity that
includes:

    -   The Ontario Automotive Investment Strategy (OAIS) that leveraged more
        than $7 billion in automotive investments and anchored thousands of
        high-value jobs

    -   Government leadership in helping Ontario manufacturers tap into
        opportunities flowing from Alberta's oil sands, which are expected to
        generate projects worth more than $100 billion by 2020

    -   Aggressive action to boost international trade and investment,
        including business missions to China and India/Pakistan and expanding
        Ontario's roster of international marketing centres to 10

    -   Investments in infrastructure, postsecondary education, stable energy
        supply, research and innovation and key economic sectors.


    Contacts:

    Phil DeMont                                                 Neil Trotter
    Minister Pupatello's Office     Communications and Public Affairs Branch
    416-325-6706                                                416-325-6716


    Disponible en français

                            www.ontariocanada.com
    





For further information:

For further information: Phil DeMont, Minister Pupatello's Office, (416)
325-6706; Neil Trotter, Communications Branch, (416) 325-6716

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