Ontario government spending $3.8M to support business expansions in eastern Ontario
Ontario economic development minister Vic Fedeli announces $3.8 million in funding for four Ottawa-area businesses at an event in Vars, Ont. Aug. 4, 2021. (Jim O'Grady / CTV News Ottawa)
OTTAWA -- The Ontario government is spending $3.8 million to support expansion plans for four local businesses in eastern Ontario.
Economic development minister Vic Fedeli announced Wednesday that four local businesses would receive funding from the government's regional development program. A government press release claims the added funding will aid in creating 63 jobs and retaining 141 more.
“These projects will make a significant impact in our eastern Ontario communities and economies," Fedeli is quoted in the release saying. "They will enable long-term measurable outcomes, including private-sector investments, job creation and retention, and strong regional growth."
The four companies, Beau-Roc, Lumibird, LTR Industries, and KB Media, will receive between $134,000 and $1.8 million from the government.
Beau-Roc, based in Vars, builds dump bodies for dump trucks. The province is giving the company $1.8 million toward their $12 million plan to build a second manufacturing facility.
Lumibird is a French company that specializes in lasers. The Ontario government is providing $1.09 million toward $7.8 million worth of facility upgrades, new equipment and expanded research and development work at its Ottawa office.
Ottawa-based millwork company LTR Industries is receiving $780,000 from the regional development fund toward a $5.2 million plan to expand production facilities.
KB Media, whose head office is in Casselman, is a branding and marketing company that has worked with local school boards, political parties and companies such as A&W and Rona. They are receiving $134,000 from the government toward a new, consolidated facility, pegged at $898,000.