Six London companies are getting a combined $2.9-million from the province that will create 283 new jobs and retain another 435 existing positions.
The cash infusion for the manufacturing, fintech, telecommunications, and food processing sectors was announced on Tuesday through the Southwestern Ontario Development Fund.
"These regional investment funds are helping to create good jobs and supporting companies that are pursuing innovations that will help them stay competitive in today’s global economy," said London North Centre MPP Deb Matthews.
Hanwha L&C Canada, which makes high-end quartz-based building materials for residential and commercial construction, is getting a $1.5-million towards a multi-million dollar expansion and second production line. The addition will be completed by December and is expected to create 85 new jobs.
Automotive manufacturer Lamko Tool & Mold will use its $434,050 cut for facility modifications and new machinery. The changes will increase production capacity, creating ten new jobs.
Sciencetech Inc., designer and manufacturer of optical spectroscopic instruments and solar simulators, will add 13 new positions through an expansion at its Global Dr. facility. The province is giving the manufacturer $161,400 for the addition, which is slated to be completed by March 2022.
Smoked deli meats giant Sikorski Sausage Co. will receive $329,724 for new equipment that will allow it to produce two new ready-to-eat products in North America. The company will hire 10 new employees.
Internet service provider Start.ca's share is $324,700. The York St.-based company is looking to consolidate operations to increase capacity by moving to an 80,000 sq ft facility. It will add 127 new jobs.
Payment processing company Zomaron is getting $239,000 for a new charitable donations platform called Givepoint. The project will create 38 new jobs.
The head of the London Economic Development Corporation (LEDC) offered high praise for the six companies.
"These sectors have been creating jobs, attracting investments and making London a hub for innovation," said LEDC President Kapil Lakhotia.
