FedDev Ontario supporting southern Ontario economic recovery

WALLACEBURG, Ontario — Bev Shipley, MP for Lambton-Kent-Middlesex, today announced that four area projects will move forward thanks to an investment of more than $2.0 million from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to stimulate local economies.

Shipley noted that two businesses in Wallaceburg will receive more than $1.3 million and create up to 140 new jobs. In doing so, Shipley said the funding is evidence of the Government’s commitment to small and medium-sized enterprises, which he described as “the backbone of the Canadian economy,” adding, “We understand the key to economic prosperity is providing the private sector with the tools they need to create jobs, wealth and opportunity for all Canadians.”
“As we continue to move forward with Canada’s economic recovery, we recognize the importance of investing in communities and businesses that have been hardest hit,” said MP Shipley. “We are creating jobs today that will benefit the residents of Wallaceburg, while providing economic stability for tomorrow.”
In Wallaceburg, the following businesses will benefit from funding:

Advanced Emissions Technology, which will receive $650,000 designs and develops patented tools and technologies and manufacturers such tools for the petrochemical industry.  The proposed project is to retrofit the former Waltec facility and purchase new equipment required to develop a world scale manufacturing facility. As a result, 50 new jobs will be created.

Kanter Marine will receive $717,225 and they will create 90 new jobs in Wallaceburg.  The company serves the custom built recreational vessel market.  The proposed project is the expansion of the facilities, purchase of equipment and marketing.

These projects will be supported through the Community Adjustment Fund, a two-year, $1-billion national program aimed at addressing the short-term economic needs of communities hit hardest by the global economic recession. Approved projects must meet the terms and conditions set out in their contribution agreements.

FedDev Ontario was created as part of Canada’s Economic Action Plan to support economic and community development, innovation, and economic diversification, with contributions to communities, businesses and non-profit organizations in southern Ontario. To learn more about FedDev Ontario and the Community Adjustment Fund, please visit the web site at www.feddevontario.gc.ca or call 1-866-593-5505. For additional information on Canada’s Economic Action Plan, visit www.actionplan.gc.ca .

Shipley also acknowledged the efforts of Mayor Randy Hope, Chatham-Kent Councilors Tom McGregor and Sheldon Parsons, Dr. Bill Currier, Stuart McFadden and the Wallaceburg Community Task Force. “Wallaceburg is on its way back and this is a testament to what can be accomplished through the hard work of citizens, volunteers and public/private sector partnerships,” said Shipley.

"Local citizens, leaders and economic development professionals have, through the Wallaceburg Community Task Force and the municipality, worked hard to attract both of these companies over the past year," said Chatham-Kent Mayor Randy Hope.  "We are very pleased that the federal government has recognized the value of these enterprises and their importance both to Wallaceburg and to Chatham-Kent.  The creation of jobs in the patented tools and technologies industry and in the custom boatbuilding industry is a very practical celebration of all our workers have to offer.  It's a great day!"