FedDev Ontario supports The Tri-Association Manufacturers Initiative
(Thursday, April 8, 2010 – PETERBOROUGH, ON) – Dean Del Mastro, Member of Parliament for Peterborough Riding, today announced that the Greater Peterborough Area Economic Development Corporation (GPA EDC) will receive an investment of $1,550,000 towards the establishment of the Tri-Association Manufacturers Initiative. The investment is being provided through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“Our government is dedicated to helping the businesses and communities of southern Ontario thrive and prosper.” stated Dean Del Mastro, Member of Parliament for Peterborough. “Canada’s Economic Action Plan is providing long-term financial stability through investments like the Tri-Association Manufacturers Initiative to areas like ours that need it most. Residents in our communities will benefit from projects like this one, which encourage economic revitalization. Our investment in the manufacturing sector will help this region become recognized as a key player in the global economy.”
The Tri-Association Manufacturers Initiative is a public/private sector partnership between four regional economic development organizations, three manufacturer's associations and private sector manufacturing companies. It will provide 50% funding to manufacturing employers that undertake third-party employee training and/or a $1,000 rebate to those manufacturing employers that hire youth interns/displaced workers.
The not-for-profit and municipal economic development organizations representing the Quinte, Greater Peterborough, Northumberland and City of Kawartha Lakes regions are partnering for the first time to deliver the Initiative that will help leverage private sector investments and support the manufacturing members of the Kawartha, Quinte and Northumberland Manufacturers’ Associations in our regions. The lead applicant for this project is the Greater Peterborough Area Economic Development Corporation (GPA EDC) and will act as the project administrator on behalf of each of the four regions.
“The labour force in the region is known for high productivity and the quality conscious attitude of our workers. In order to stay competitive in these areas we must continue to train employees and work to retain the workforce in the area.” stated Andy Mitchell, President & CEO, Greater Peterborough Area Economic Development Corporation (GPAEDC).
“The Tri-Association Manufacturers Initiative will allow local companies to increase the skill-base of their employees, provide an opportunity for youth to obtain jobs in the manufacturing sector and help to keep our experienced employees here at home.”
This project will be funded through the Community Adjustment Fund, a two-year, $1-billion national program aimed at addressing the short-term economic needs of communities hit hardest by the global economic recession. The approved project must meet the terms and conditions set out in the contribution agreement.
FedDev Ontario was created as part of Canada’s Economic Action Plan to support economic and community development, innovation, and economic diversification, with contributions to communities, businesses and non-profit organizations in southern Ontario. To learn more about FedDev Ontario and the Community Adjustment Fund, please visit the web site at www.feddevontario.gc.ca, or call 1-866-593-5505. For additional information on Canada’s Economic Action Plan, visit www.actionplan.gc.ca.
