EDGE Automation and Takumi Stamping Canada Inc. in Southwestern Ontario have announced $14 million expansion plans and received more than $2.1 million in funding through the provincial regional devdelopment program (RDP).
“Our government is proud to support local manufacturers as they look to expand their operations and create more jobs,” said Vic Fedeli, minister of economic development, job creation and trade. “We’re creating the right conditions to attract more investments to Southwestern Ontario from both global companies like Volkswagen and local businesses like EDGE Automation and Takumi Stamping Canada Inc.”
EDGE Automation, a London-based manufacturer that provides automated solutions in mechanical and electrical design and programming, product manufacturing and custom machine building, is investing $5.2 million to expand operations for a larger building, new equipment and a new enterprise resource planning system to improve efficiencies. This project was granted more than $778,000 in funding through the RDP’s Southwestern Ontario Development Fund and will help create 13 new jobs.
“EDGE welcomes the RDP funding, which will help accelerate our growth and team expansion,” said Gerard Regier, President of EDGE Automation. “At a time of economic uncertainty and rising costs, the funding helped make our expansion plans more financially viable. The expansion will help us create local high value jobs and reinvest into our employees.”
Takumi Stamping Canada Inc., is an automotive parts manufacturer based in St. Thomas that ships 500,000 parts in over 540 different part offerings per day. The company is investing $9 million to expand its plant and add new operating equipment and will receive $1.3 million in provincial funding.
“Our team at Takumi Stamping Canada Inc. remains very excited about the opportunities that the provincial funding through the RDP’s Southwestern Ontario Development Fund supports as we move towards future growth of the business and continue to build upon our strong foundations in the community,” said Masakatsu Nakata, COO and Chief Engineering Officer for Takumi Stamping Canada Inc.
As part of the 2023 Ontario Budget, the government is proposing a new Ontario made manufacturing investment tax credit, a 10 per cent refundable corporate income tax credit to help local.