Ontario Supports Significant Aerospace Investment To Boost R...| MENAFN.COM

Sunday, 25 September 2022 06:39 GMT

Ontario Supports Significant Aerospace Investment To Boost Regional Economy


(MENAFN- Caribbean News Global)

MISSISSAUGA, Canada — The Ontario government is supporting a $21.4 million investment by Cyclone Manufacturing, a leading supplier of aerospace components and sub-assemblies with manufacturing facilities in Mississauga and Milton. This investment will strengthen Ontario's advanced manufacturing sector and further grow the province's economy.

Last month during the Farnborough International Airshow, the government announced a $1.5 million investment in Cyclone through the Advanced Manufacturing and Innovation Competitiveness stream of Ontario's regional development program. This funding will help Cyclone invest in new technologies that will enable it to undertake process work that is currently done outside of Canada. By bringing this work to Ontario, Cyclone will be able to create 60 new jobs and upskill 100 employees at its Ontario facilities.

Vic Fedeli, minister of economic development, job creation and trade visited the Mississauga facility today to discuss the impact of this investment on families and workers in the local community.

“Cyclone is a key supplier in Ontario's aerospace ecosystem that our government is proud to support,” said minister Fedeli.“With more global aerospace giants expanding to Ontario, we'll continue to grow and strengthen our aerospace manufacturing across the province. We will continue to create the right conditions for businesses to innovate, grow and attract investments that are creating well-paying jobs and building a better future for all people in Ontario.”

Cyclone Manufacturing Incorporated is a provider of complex aerostructures and structural assemblies for major aerospace companies around the world.

“Cyclone's partnership with the government of Ontario comes with a strong commitment from our company to increase employment, advance innovation and remain a global leader in aerospace manufacturing,” said Robert Sochaj, Cyclone's vice president.

“We are grateful to minister Fedeli and the ministry of economic development, job creation and trade for their dedication to Ontario's aerospace sector and the thousands of people it employs across this province.”

Aerospace is a key component of Ontario's advanced manufacturing sector. It directly employs more than 21,500 people across more than 200 companies, and an additional 17,200 indirectly. Ontario's aerospace industry is the second largest in Canada, representing close to a quarter of all Canadian activity. The province is home to a globally renowned landing-gear cluster, as well as major global aerospace companies.

“This critical investment will solidify Mississauga's role as a major centre for our aerospace manufacturing sector and create good jobs right in the heart of our community. We're delivering on our promise to the people to rebuild our economy and bring back good manufacturing jobs for our workers,” Kaleed Rasheed MPP Mississauga East – Cooksville and minister of public and business service delivery.

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