A Stratford-based auto parts manufacturer is getting a big financial boost from the provincial government that will not only protect existing jobs, but create 30 new ones.
Aisin Canada has been awarded $2.2 million through Ontario's Together Trade Fund (OTTF), a fund established to assist businesses hard-hit by U.S. imposed tariffs.
Perth-Wellington MPP Matthew Rae announced the funds late last week.
“The unjustified U.S. tariffs have directly impacted our local manufacturers, and I am proud to see our government taking action to protect these businesses and good paying jobs,” said Rae. “This investment, by both Aisin and the Government of Ontario, will strengthen our local manufacturing community and solidifies our government’s commitment to protect Ontario and our communities.”
The provincial funding will go to support Aisin's $11 million purchase of new equipment for its newly awarded Toyota Lexus NX panoramic sunroof production program. Production is slated to start next December.
"This funding is a critical step forward for us. It will allow Aisin to localize production that is currently based in Japan, ensuring we maintain economic stability here in Stratford," said Aisin Canada President Wayne Robert. "By doing so, we are not only preventing potential layoffs but also creating new job opportunities for our community.”
As of October, more than 140 applications for funding have been submitted to the OTTF, the province said. The fund is open to all Ontario based businesses investing a minimum of $2000,000 to modify existing products, enter new sectors, procure advanced equipment or make facility enhancements.
