News
For Immediate Release
Peterborough
12/14/2011
Ontario Helps Create 24 Jobs in Peterborough: McGuinty Government Supports Local Company
NEWS
Ontario is helping Flying Colours Corporation — an avionics company based in Peterborough – expand its facility, and create 24 new high-skill jobs and protect 128 existing positions. 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 the support of the province, Flying Colours will install a new special-purpose facility at the Peterborough airport. This will allow the company to provide services such as refurbishment, avionic upgrades, comprehensive repairs, exterior paint jobs and fuel systems for larger aircraft than those it has been previously able to service. The expansion will also enable the company to retain work in Peterborough that in the past had gone to its US-based subsidiary.
The Eastern Ontario Development Fund (EODF) has been very successful to date. It has created and retained 11,700 jobs in eastern Ontario, including the creation of 173 jobs and the protection of 848 jobs in Peterborough. The McGuinty government recently introduced the Attracting Investment and Creating Jobs Act to make the EODF permanent.
Partnering with local business and supporting innovation is a key component of the McGuinty government’s plan to create jobs for Ontario families and secure Ontario’s future in the new global economy.
QUOTES
“We are helping companies like Flying Colours expand their operations and create jobs by investing in new, innovative technologies and equipment that helps keep them competitive.
The Eastern Ontario Development Fund has been very successful in leveraging new investment and creating jobs for Ontario families.”
— Brad Duguid, Minister of Economic Development and Innovation
“This is an exciting development for a made-in-Ontario company. Now that Peterborough Airport can accommodate larger aircraft, we expect to see further growth for the company and local suppliers. Top corporations are coming to Peterborough to order plane retrofits, and Fleming College has an ideal partnership with Flying Colours for the training of students in the college’s aircraft completion program.”
— Jeff Leal, Member of Provincial Parliament for Peterborough
“We are investing in state-of-the-art avionics and a specialized aircraft coatings facility that will help us grow our business and keep the work in house. Larger aircraft can make use of the new runway and access our services directly. It means a bigger market for FCC and local suppliers. We’re pleased that the province is part of this important milestone in our history.”
— Kate Gillespie-Ahrens, Director, Business Development, Flying Colours Corporation
QUICK FACTS
- Flying Colours Corporation was established in 1989 and is a global leader in all aspects of aircraft completions and maintenance. It accommodates a growing aircraft sales and leasing division in Peterborough, Ontario, Canada.
- The company partnered with Fleming College to develop a specialized aircraft completions program and has hired 90 per cent of the graduates directly into the company.
- With over 350 specialized firms, Canada has the fifth-largest aerospace industry in the world and Ontario is one of the powerhouses behind the industry.
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
416-325-0362
Julia Nazcynski
Communications Branch
416-325-6995
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