Seven local automotive companies are receiving a combined $7.8-million from the Southwestern Development Fund.
The money will go toward expansions and equipment to keep the companies competitive in the industry.
Deputy Premier Deb Matthews says these companies were selected out of all who apply because of the innovation in the projects.
"We put these proposals through a pretty rigorous analysis and we look at things like how many new jobs will they create? Are they strategic investments? You notice when I talk about the companies they are all about innovation. They are doing something new and different," says Matthews.
Overall the investment is expected to create 270 new jobs and helps to retain 1,180 positions.
Astrex Inc. received $1.5-million to produce high-strength alloys for the automotive sector. The investment is part of a $28.4-million project that includes a new facility, equipment and training. It's expected to create 62 jobs over the next four years.
Electromac out of Windsor received $1.5-million to help expand its facility, purchase equipment and install three hot stamping production lines to meet increased demand for light weight auto parts. The project has a total value of over $15.4-million and is expected to create 30 new jobs and retain 191 positions over five years.
The province committed to $450,000 to help Essex Weld Solutions expand and acquire state-of-the-art fibre optic laser cutting machines to increase production and implement robotic welding processes.The project has a total value of more than $4.5-million and is expected to create 20 jobs and retain 110 positions over three years.
Integrity Tool and Mold is receiving $1.1-million to help upgrade equipment to produce higher quality and more precise molds than what are currently on the market. The project has a total value of more than $16.6-million and is expected to create 52 new jobs and retain 317 positions over three years.
JD Norman Canada received $480,000 to help invest in new equipment to improve product quality and ramp-up production. The company makes connecting rods for the automotive sector. The project has a total value of more than $4.8-million and it's expected to create 14 new positions and retain 85 over five years.
Lakeside Plastics received $1.28-million to help purchase new machinery and equipment to expand their capabilities and improve competitiveness. The company manufactures plastic automotive interior trim parts. The project has a total value of $12.8-million. It's expected to create 55 jobs and retain 305 positions over almost four years.
The Ventra Group received $1.5-million to help upgrade facilities and purchase new equipment. The company stamps, welds and assembles metal automotive parts. The project will incorporate an experimental high-strength steel new to the automotive industry. The project has a total value of more than $31.9-million and is expected to create 37 jobs and retain 179 positions over four years.
