News
For Immediate Release
Peterborough
10/27/2011
Ontario Helps Local Company Create New Jobs In Peterborough: McGuinty Government Strengthens Manufacturing Sector
NEWS
Ontario is helping McCloskey International Limited increase its competitiveness while creating 60 new jobs and protecting 173 existing positions. These new jobs will build upon the 97,700 net new jobs that have already been created in Ontario so far this year alone.
The province is partnering with the Peterborough-based company to enhance its facilities, expand its production capabilities and manufacture heavy equipment components in-house. The company will also:
- invest in robotic welding technology
- develop a prototype cone crusher chamber, and
- install a new automated paint line system.
Partnering with local businesses is a key component of the McGuinty government’s plan to create and support new and existing jobs for Ontario families, and to strengthen local economies.
QUOTES
“This government partnership with McCloskey International will create 60 new jobs and will impact our local economy. It is investments like these that help companies continue to grow and expand their operations while creating important new jobs for community members.”
— Jeff Leal, Member of Provincial Parliament for Peterborough
“This is one example of Ontario’s investment in home-grown companies. McCloskey is developing new products and replacing imported components with made-in-Ontario parts. This is the kind of growth we want to see in local manufacturing.”
— Brad Duguid, Minister of Economic Development and Innovation
This is a natural progression of our expansions over the last two years and brings more of our manufacturing capability in-house, here in Peterborough. With this growth we have been able to reduce our dependence on components made out-of-province and bring jobs to our home base in Ontario.”
— Paschal McCloskey, President, McCloskey International Limited
QUICK FACTS
- Previous support from the province in 2009 helped McCloskey created 80 new jobs – 30 more than the company’s original job creation commitment – and helped the company build infrastructure, purchase equipment and expand production.
- Founded in 1985, McCloskey International Limited manufactures portable conveyors and screening equipment for use in the aggregate, landscaping and recycling sectors.
- Since October 2003, Ontario has created 524,100 net new jobs for Ontario families.
- In 2010, Ontario was named a top destination for foreign direct investment in North America,second only to California. The province attracted a total of 127 Foreign Direct Investment projects, which created more than 11,200 jobs.
- As a result of the tax changes implemented in Ontario, taxes on business investment were cut in half, making Ontario more competitive and encouraging new business investments.
LEARN MORE
- See how Ontario's Budget 2011 is supporting job creation and helping the province's economy to turn the corner.
- Explore government-funded programs and services for Ontario businesses.
- Visit the Ministry of Economic Development and Innovation’s website for comprehensive economic and trade news, including a toolkit for businesses.
For more information:
Andrew Block
Minister's Office
416-276-0511
Julia Naczynski
Communications Branch
416-325-6995
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