Archived — Canada's Economic Action Plan Investment in Communities and Businesses Delivers Results for Kitchener-Waterloo Region
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For immediate release
April 6, 2010
Kitchener, ON — Residents and businesses in the Kitchener-Waterloo area will benefit from an investment of more than $1 million in three new stimulus projects. Peter Braid, Member of Parliament for Kitchener-Waterloo, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), made the announcement today at Riverside Door & Trim Inc.
These investments will create jobs and strengthen the economy," said Minister Goodyear. "
Our government is working with the people, businesses and communities of southern Ontario to help our region prosper now and in the future."
Our government is proud to partner with innovative local businesses," said MP Braid. "
The investments announced today will encourage economic revitalization, and help our community become a key player in the global economy."
Riverside Door & Trim Inc. will receive up to $820,250 to relocate and expand its manufacturing facility, as well as develop a new product line.
I am thrilled Riverside Door & Trim Inc. will now be able to expand operations and improve efficiency thanks to the support of FedDev Ontario," said Mario Gianniotis, Managing Partner, Riverside Door & Trim Inc. "
This funding will help us develop new products and improve our manufacturing processes."
For additional details on local projects, please refer to the backgrounder. These projects will be funded under the Community Adjustment Fund in southern Ontario, which will create immediate employment opportunities and support the local economies that have been struggling with the effects of the global economic downturn.
Other projects approved under the Community Adjustment Fund will be announced over the coming weeks. 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 in southern Ontario, please visit the website 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.
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For more information, contact:
Director of Communications
Office of the Honourable Gary Goodyear
Listed below is a breakdown of the projects approved for funding under the second phase of the Community Adjustment Fund (CAF) in the Kitchener-Waterloo area.
|Funding Recipient||Project Title||Total CAF contribution (up to)|
|Accelerated Systems Inc.||Construction of a test lab, staff hiring and training, and purchase of new software||$153,750|
|Canadian Innovation Centre||Creation of an online toolkit||$85,388|
|Riverside Door & Trim Inc.||Relocation and expansion of manufacturing facility, and development of new products||$820,250|
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