Ontario Welcomes Over $6.2 Million Manufacturing Investment

November 15, 2024

Burlington, ON — The Ontario government is supporting an investment of $ 6,266,100 by RAMPF Composite Solutions Inc. to boost local manufacturing and create 20 new good-paying jobs in Oakville North-Burlington.

The funding was announced today by Effie Triantafilopoulos, Member of Provincial Parliament for Oakville North-Burlington.

“Through our government’s strategic support, we are strengthening Ontario’s competitive edge and boosting the economy,” said MPP Triantafilopoulos. “This $6.2 million investment by RAMPF Composite Solutions Inc., will energize the manufacturing sector and create 20 good-paying jobs for the Oakville North-Burlington community.”

With this investment, RAMPF Composite Solutions Inc. will improve its automation and robotics capabilities by further investing in advanced manufacturing equipment. This will be accomplished in a newly constructed 74,000 sq ft plant in Burlington, which will further support the company in this growing sector.

“Employing more than 800,000 workers across the province, Ontario’s manufacturing sector is the economic engine of our nation,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support local companies like RAMPF Composite Solutions Inc as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.”

In support of this investment, Ontario is providing RAMPF Composite Solutions Inc. with $939,915 in funding through the Regional Development Program’s Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream.

“The AMIC funding from the Ontario Government was instrumental in positioning RAMPF Composite Solutions to win new business in the fast-growing field of light-weight composites,” said Larry Fitzgerald, CEO of RAMPF Composite Solutions Inc. “The funding allowed us to invest in new automation equipment, improve the skillset of our Composite Technicians and win new business that has resulted in sales increasing over 50% this year alone.”

Through its Regional Development Program, Ontario is investing $180 million to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 135 projects through the program, leveraging more than $1.9 billion in new investments and helping to create over 3,500 jobs.

QUICK FACTS

As part of the 2023 Ontario Budget, the government is proposing a new Ontario Made Manufacturing Investment Tax Credit, which would provide a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
The 2024 Ontario Economic Outlook and Fiscal Review: Building Ontario for You continues to take a fiscally responsible and targeted approach to maintaining Ontario’s competitive status and unlocking new opportunities across key sectors.

The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Businesses and municipalities can get financial support through the Eastern Ontario Development Fund and Southwestern Ontario Development Fund and guided access to a range of complementary services and supports.
In 2022, the Advanced Manufacturing & Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream by providing more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.

ADDITIONAL RESOURCES

MEDIA CONTACT

Katie W. Robinette

Executive Assistant

Katie.Robinette@pc.ola.org

416-357-4479