Ontario Welcomes Over $3.3M Manufacturing Investment

Candor Industries will create 10 new jobs in Toronto

Toronto — The Ontario government is supporting an investment of $3,350,000 by Candor Industries to boost local manufacturing and create 10 new good-paying jobs in Toronto. As part of this investment, the government is providing Candor Industries with $502,500 in funding through the Regional Development Program’s Advanced Manufacturing and Innovation Competitiveness Stream.

This funding was announced today by Michael Kerzner, Member of Provincial Parliament for York Centre.

“Our government is building a strong Ontario and strengthening the economy by supporting key investments in communities like York Centre,” said MPP Michael Kerzner. “Candor Industries’ investment will help to grow our local manufacturing sector and create more good-paying jobs for workers and families in York Centre.

Candor Industries is investing over $3.3 million to acquire advanced machinery and equipment.  The new equipment will increase production capacity enabling the company to meet new, advanced product specifications to compete in emerging and innovative industries such as quantum computing, 5G, Ligh Detection and Ranging (LIDAR)and medial devices.  This exciting new project will help Candor continue to be innovative and competitive in their sector.

“Thanks to the support from AMIC , we were able to secure a crucial loan that enabled us to acquire essential equipment ahead of schedule,” said Sunny Patel, VP of Engineering and Operations. “This timely funding has accelerated our growth, allowing us to create more jobs and solidify our position as one of the premier PCB manufacturing shops in North America. We are grateful for this opportunity to enhance our capabilities and continue driving innovation in the industry.”   

Ontario is investing $160 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 120 projects through the program, leveraging more than $1.7 billion in new investments and helping to create over 3,200 jobs.

“Our government is proud to support local manufacturers across the province as they grow and create more good-paying jobs in communities,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We thank Candor Industries for making a significant impact in their community and for contributing to our province’s dynamic and growing manufacturing sector.”

QUICK FACTS

  • As part of the 2023 Ontario Budget, the government is proposing a new Ontario Made Manufacturing Investment Tax Credit, which would provide a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
  • The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Businesses and municipalities can get financial support through the Eastern Ontario Development Fund and Southwestern Ontario Development Fund and guided access to a range of complementary services and supports.
  • In 2022, the Advanced Manufacturing & Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream by providing more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.

ADDITIONAL RESOURCES