Archived — Canada's Economic Action Plan Investment in Communities and Businesses Delivers Results for Windsor-Essex
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For immediate release
April 6, 2010
Oldcastle, ON — Residents and businesses of the Windsor-Essex area will benefit from an investment of more than $2.5 million in Lakeside Plastics Limited to increase their production, announced today by Jeff Watson, MP for Essex, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
"This investment 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 investing in businesses and communities like Oldcastle in order to help stimulate job growth and improve the quality of life of our residents," said MP Watson. "We are working hard to support and invest in Windsor-Essex to help this region recover from the economic recession."
Lakeside Plastics Ltd. will receive an investment of up to $1,585,000 to expand its facility, as well as an investment of up to $980,000 to purchase six injection moulding machines for use in the facility. These projects will increase sales and diversification of the company's customer base and increase production capacity.
"The support provided by FedDev Ontario will allow us to increase our capacity, accelerate innovation, expand our customer base and create employment," said Glenn Coates, President of Lakeside Plastics Ltd. "This involvement gives our organization the tools we need to enhance our global competitiveness."
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
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