News
For Immediate Release
Cambridge
12/13/2011
Ontario Helps Cambridge Company Create Jobs: McGuinty Government Moving Economy Forward
NEWS
Ontario is partnering with Novocol Pharmaceuticals of Canada Inc. to modernize and expand their operations and improve the company’s global competitiveness, creating eight new jobs in Cambridge. These new jobs build upon the 124,800 net new full time jobs that have already been created in Ontario so far this year alone.
With provincial support, the company is modernizing its Cambridge facility by expanding and creating new production areas for dental anaesthesia products, as well as converting an outdated production line into an R&D centre. The company is also diversifying by acquiring advanced equipment to develop other innovative new products for the dental industry.
Ontario is providing a strong and stable environment for businesses to grow and create good jobs for families in the face of global economic uncertainty.
Partnering with businesses and supporting made-in-Ontario technologies is part of the McGuinty government’s plan to ensure families can find work while securing Ontario’s future in the new global economy.
QUOTES
“Ontario is pleased to support companies like Novocol with investments toward the types of innovation and R&D initiatives guaranteed to bring jobs to our communities and strengthen Ontario’s economy. With 41,500 Ontarians working in the life sciences industry, it plays an important role in the province’s economy.”
– Brad Duguid, Minister of Economic Development and Innovation
“This partnership between our government and Novocol will protect quality jobs for Waterloo Region workers while setting the stage for more jobs and economic growth. We’re proud to work together with this company to help position Waterloo Region as a leader in the life sciences sector.”
― John Milloy, MPP - Kitchener Centre
“We are extremely proud of the fact that Novocol is a world leader in manufacturing of dental injectable products here in Cambridge, and in our skilled workforce that has helped build our 100 year history in the industry. On the highly competitive global stage, modernization is no longer an option used for getting ahead of the competition; it’s an essential just to stay in business. Ontario’s support to help us invest in advanced R&D and innovation is what it takes to get us to the next level and to help create local jobs and give back to the community that has helped make this company such a success.”
– Kent Chiu, President – Septodont North America
QUICK FACTS
- In 2010, Ontario’s Pharmaceutical sector exported $5.8 billion in goods.
- 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.
- In June of this year, Ontario created more jobs than the rest of Canada and the United States combined.
- As a result of the tax changes implemented in Ontario, taxes on business investment were cut in half, making Ontario more competitive and encouraging business growth.
LEARN MORE
- See Ontario’s plan to support job creation.
- Take a look at the programs and services available to help your business grow.
- Read Ontario’s 2011 Progress Report.
For more information:
Andrew Block
Minister's Office
416-325-0362
Sofia Sousa-Dias
Communications Branch
416-326-8465
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