Newmarket's Exco Engineering has received a $1.7-million provincial grant to help protect local jobs and restore critical supply chains to Ontario in the face of rising threats of U.S. tariffs on automotive tooling.
Exco Engineering, a world leader in the design, build and development of large high pressure die cast tooling, plans to invest more than $4.25 million to adopt new capabilities, including the acquisition of an advanced, large-scale CNC milling machine, an Ontario government news release said today.
The project will enable the company to reshore advanced tool and die production from China to address three urgent risks: the rising threat of U.S. tariffs on automotive tooling, costly and unpredictable international shipping, and reduced control over proprietary designs.
The $1,700,800 Ontario Together Trade Fund grant will create four new jobs and protect 140 existing positions in Newmarket, the government said.
“Through the Ontario Together Trade Fund, our government is stepping up for the businesses in our community who’ve been directly affected by U.S. tariffs,” said Newmarket-Aurora MPP Dawn Gallagher Murphy. “Exco Engineering’s investment will help them adapt, stay competitive and continue creating good jobs in these uncertain times, all while helping make Ontario’s economy more competitive, resilient and self-reliant.”
Pour lire la suite : https://www.auroratoday.ca/local-news/17m-provincial-grant-helping-newmarket-firm-protect-jobs-amid-us-tariffs-11962019
