The Ontario government is welcoming a $9.6 million investment by PWO Canada, the first international subsidiary of German auto parts manufacturer PWO Group. The investment will be used to add a new assembly line to the company’s Kitchener facility and create 27 new, good-paying jobs.
“We continue to grow Ontario’s automotive and manufacturing sectors thanks to companies like PWO Canada,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through our Regional Development Program, our government is creating the right conditions for manufacturers to expand and create new jobs. Thank you, PWO Canada, for strengthening your presence in Ontario.”
With their $9.6 million investment, PWO Canada will install a new assembly line with state-of-the-art technology. This new technology will increase production and add more automation that will lower-costs and make the company more competitive. To support this investment, Ontario will provide PWO Canada with nearly $1.5 million through our Regional Development Program’s Southwestern Ontario Development Fund.
“This support provides not only the financial resources needed for progress and development, but also the confidence enabling growth in Ontario, keeping talents from Waterloo Region here in our community,” said Andreas Haas, CEO of PWO Canada Inc. “The confidence that protects the needs of future generations and respects our planet and the assurance that our endeavors are backed by the support and trust of our government leaders. We extend our gratitude to the government for recognizing the potential within our company which is a great recognition of the tireless efforts and countless hours invested by our professional and dedicated team.”
Ontario is investing $140 million through its Regional Development Program to help manufacturers across the province grow and create new, good-paying jobs. To date, Ontario has provided over $110 million to support more than 90 projects through the program, leveraging over $1.1 billion in new investments and helping to create more than 2,200 jobs. Applications for the latest round of the Regional Development Program’s Southwestern Ontario Development Fund are open until October 5, 2023.
Source : ontario.ca