The Canadian federal and Ontario governments have announced that they will each be backing a new $750mn expansion project undertaking by auto-parts manufacturer Linamar with two sizeable investments.
The federal government has committed $49mn, whilst the Ontario government has put forward $50mn, with the project expected to both create 1,500 new employment opportunities, in addition to maintaining an existing 8,000 jobs.
“This investment solidifies Ontario's leadership in the development and manufacturing of the next generation of vehicles,” said the Ontario government. “It will also increase technological capabilities in the supply chain, making the province's automotive sector more competitive.
“Investing in advanced manufacturing and innovation is part of Ontario's plan to create fairness and opportunity during this period of rapid economic change.”
The $99mn in investments will be used to help Linamar innovate the manufacture of its components and systems, whilst also enabling the company to develop electrified and connected vehicle technologies.
Further, Linamar will create a dedicated Innovation Centre that will focus on the use of emerging technologies such as artificial intelligence (AI), machine learning and robotics.
Ontario will provide the $50mn grant through its Jobs and Prosperity Fund, whilst the federal government will use the Strategic Innovation Fund to provide its $49mn own investment.