Soluroc Cobourg will retain 27 jobs and create 12 new, good-paying jobs in Northumberland-Peterborough South
COBOURG, ON —The Ontario government is welcoming an investment of $5,411,130 by Soluroc, a parts manufacturer for the mining and heavy industrial sector, to increase production capacity and create 12 new, good-paying jobs in Northumberland-Peterborough South.
“By supporting strategic investments from regional businesses, our government is protecting Ontario’s workers and creating the conditions for a strong, stable and resilient economy,” said David Piccini, MPP for Northumberland-Peterborough South. “Soluroc is making significant investments in advanced manufacturing that will strengthen local production, support innovation and create more good-paying jobs for workers and families in Northumberland-Peterborough South.”
With this investment, Soluroc Cobourg will expand its existing facility by 18,000 square feet and invest in advanced manufacturing equipment, including CNC-controlled waterjet cutters, automated welding systems, roll-forming lines, surface grinders and an Industry 4.0 connectivity platform. The expansion will also support the reshoring of manufacturing capabilities that are currently outsourced to suppliers in the United States and Europe.
In support of this investment, the government is providing Soluroc with $500,000 in funding through the Regional Development Program’s Eastern Ontario Development Program.
“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 Soluroc Cobourg as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.”
Ontario is investing over $250 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 215 projects through the program, leveraging more than $2.8 billion in new investments and helping to create over 5,900 jobs.
QUICK FACTS
- The government launched the Regional Development Program (RDP) for eastern and southwestern regions of Ontario in November 2019. Through this program, businesses and municipalities can get financial support and guided access to a range of complementary services and supports.
- In 2022, the Advanced Manufacturing and 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 that will help more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.
- The government continues to provide tax support to Ontario manufacturers by continuing to offer the Ontario Made Manufacturing Investment Tax Credit to eligible businesses.
- Additionally, Ontario has launched a new $150 million Ontario Together Trade Fund to assist local businesses in taking advantage of new interprovincial trade opportunities.
ADDITIONAL RESOURCES
ADDITIONAL QUOTES
“In a period when many manufacturers are pulling back, we chose to invest. Doubling our Cobourg footprint and adding a Chrome Carbide overlay line gives us the capacity to serve mining and heavy industry customers in new markets from right here in Northumberland County. The support of the Eastern Ontario Development Program helped us move on this opportunity faster than we could have on our own, and that speed matters when markets are shifting.”
– Christian Gagnon, CEO, Soluroc
“We are thrilled to see continued investment in Northumberland’s manufacturing sector and are pleased to see our local manufacturers receiving support from the provincial government through the Eastern Ontario Development Fund. These investments are a strong reflection of the confidence in our local industry and the important role manufacturing plays in our community. When a local manufacturer grows, the benefits reach far beyond one business — it creates jobs, strengthens our supply chain, supports local families and contributes to the overall economic strength of our community. The NMA is proud to see our manufacturers succeeding and investing in their future here in Northumberland. We look forward to seeing this investment translate into continued growth, innovation and opportunity for our entire manufacturing community.”
– Darla Price, Executive Director, Northumberland Manufacturers Association