A Cool Million
News Release for local2 sault ste. marie
May 23rd, 2012 at 12:43pm
Provincial Investment Strengthening Economy and Creating Local Jobs
The province is continuing to support local businesses and industry through the Northern Ontario Heritage Fund Corporation (NOHFC), which is providing a targeted investment of $1 million for significant infrastructure and heavy equipment upgrades to the SIS Manufacturing Corporation creating up to 50 full-time jobs in Sault Ste. Marie, David Orazietti, MPP announced today.
“We are providing $1 million in provincial funding through the NOHFC to support the expansion of a local business that is making major improvements to their facilities as well as upgrades to their equipment to expand job capacity and remain competitive,” said Orazietti. “Growing economic opportunities in northern Ontario is a top priority for our government, which is why we are protecting the NOHFC’s budget, which has been raised from $60 million to $100 million since 2003.”
The NOHFC’s Enterprise North Job Creation Program is supporting SIS Manufacturing Corporation with a $500,000 loan and a $500,000 grant toward the overall company expansion valued at $2.4 million. The combined $1 million in provincial funding has been used to build a 36,000 square foot building for the manufacturing of structural steel components for locomotive trains. Provincial funding will also be used to make essential equipment upgrades that include two 25 tonne cranes, sub arc welding machines, a shot blast horizontal plate machine and new AKS Robohead machine.
“The province’s NOHFC program is very helpful for northern businesses such as SIS Manufacturing because it has given us the ability to make significant upgrades to our infrastructure and equipment so we can compete for contracts that will create local jobs and contribute to Sault Ste. Marie’s economy,” said Tony Porco, President of SIS Manufacturing. “The NOHFC is important for businesses of all sizes in northern Ontario and we are pleased to have been approved for a program that will have economic benefits for our community and the Algoma region.”
Since 2003, the province has approved over $48 million for nearly 400 NOHFC projects in Sault Ste. Marie. These investments have resulted in new jobs and allowed for over $150 million in infrastructure and business projects to be completed.
The provincial government’s four previous budgets have each increased the NOHFC’s funding by a further $10 million per year from $60 million in 2007 to $100 million in 2011 to support vital community infrastructure and economic development projects that create jobs and enhance the quality of life for northerners.
Since 2003 some of the key NOHFC investments in Sault Ste. Marie include:
· $5 million Agawa Canyon Tour Train
· $2.5 million Heliene Solar Manufacturing Plant
· $2.4 million for the Sault Ste. Marie Airport Development Corporation
· $2.3 million for Algoma University Biosciences and Technology Building ($10.3 million total provincial investment)
· $2.1 million Flakeboard Ltd. Expansion
· $2 million Sault College - IT infrastructure, Multi-Media Centre, Wind Energy Training Centre
· $1.6 million Hub Trail & Waterfront Walkway Expansion ($3.1 million total provincial investment)
· $1.5 million West End Recreation Centre ($6.2 million total provincial investment)
· $1.5 million for Sault College Academic Building ($9.5 million total provincial investment)
· $1.5 million Huron Central Rail upgrades ($16.5 million total provincial investment)
· $1 million Essar Centre ($4.7 million total provincial investment)
· $1 million Algoma Public Health building – Technology ($8.3 million total provincial investment)
· $1 million City - Emergency Response Centre (EMS) ($2.2 million total provincial investment)
· $785,500 Palmer Construction Group Inc.
· $475,000 Soo Foundry & Machine equipment upgrade
· $202,750 China Steel equipment upgrade