ON: Linamar to Invest $506.8M, Create 1,200 New Jobs
13 Jan, 2015
Premier Kathleen Wynne announced Ontario is partnering with Linamar to create 1,200 jobs over the next 10 years.
Linamar is a global auto parts manufacturer based in Guelph. The company is investing in its research and development facilities to enhance the long-term competitiveness of its Ontario operations. The total investment is valued at $506.8 million, which will include $50.25 million in support from Ontario.
Linamar selected Ontario for this major development project because of Ontario's highly skilled workforce and R&D capabilities. The investment will enable the company to develop and produce components for the next generation of fuel-efficient cars and capture a growing share of the North American automotive market.
Attracting new investments and helping the province's businesses compete globally is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure retirement savings plan.
Ontario is among the top vehicle producers in North America and is home to five major global automotive assemblers: Chrysler, Ford, General Motors, Honda and Toyota. The industry supports hundreds of thousands of jobs in communities across the province.
The province worked closely with the federal government to secure Linamar’s investment.
Ontario’s business support grants are contingent on the company meeting investment and job targets. Projects are closely monitored over their lifespan to protect taxpayers’ investment.
Ontario achieved a number one ranking for greenfield capital investment in North America during 2013, according to fDi Intelligence, the research division of the Financial Times of London.
“Linamar is a true Ontario success story. My government is proud to support the next phase of its growth and help create high-quality jobs for the people of our province. By partnering with companies like Linamar, we are positioning the province for growth now, and for years to come.”
Kathleen Wynne, Premier of Ontario
“Today’s announcement with Linamar is a great example of our auto strategy in action. It demonstrates Ontario’s ongoing commitment to partnering with the auto industry and its workers to create long-term growth and global competitiveness. Our investments to date have leveraged more than $10 billion in industry investment, and our government will continue to partner with the auto sector and the federal government to attract investment, foster innovation and create high-value jobs.”
Brad Duguid, Minister of Economic Development, Employment and Infrastructure
“Linamar is a major employer in our city and a leader in Ontario’s manufacturing sector. I thank the company for its continued confidence in its Guelph workforce and am delighted our government is partnering with Linamar as it builds its business in the competitive global auto industry.”
Liz Sandals, MPP for Guelph
“We are thrilled with the support shown by both the Ontario and federal governments towards this investment in our Ontario plants. Our Canadian plants are our most productive globally thanks to a talented, skilled workforce with an amazing work ethic and a dedication to process and product innovation throughout our company. That combination of innovation and efficiency are what make us competitive on a global scale. It is critical for our governments to also create a competitive environment for companies to invest and they certainly have done so today with this funding in addition to a competitive tax rate and support for innovation and education unparalleled globally. We are thrilled with this partnership for success!”