Rae Announces $1.5 million for Manufacturing Innovation
[Palmerston, ON]— Today, Matthew Rae, MPP for Perth-Wellington, announced over $1.5 million in funding for the local manufacturing company, Trusscore.
“Trusscore is a global and innovative leader in the residential and commercial construction industry,” Rae said. “It is also a major employer in the Town of Minto. This investment by our government will help create and retain high-skilled jobs locally.”
This investment supports Trusscore’s $10 million investment to improve its manufacturing processes and create 68 new jobs.
“This provincial funding will help Trusscore to continue to revolutionize the home building materials industry, while creating good paying jobs locally” Rae said. “Our government will continue to make investments to build Ontario and our economy.”
“Trusscore is incredibly grateful to be the recipient of the Advanced Manufacturing & Innovation Competitiveness (AMIC) grant from the Ministry of Economic Development, Job Creation & Trade,” said Dave Caputo, CEO, Trusscore. “This significant investment will allow Trusscore to take our operations to the next level by upgrading and expanding our Palmerston manufacturing facility, implementing state-of-the-art systems, and focusing on the development and commercialization of innovative high-tech solutions to the building materials industry. We will create new jobs for the community and be able to meet the ever-growing demand for Trusscore products. This grant is a testament to the hard work and dedication of Team Trusscore, and we are confident that it will position us for continued growth and success in the future.”
“Our government is proud to support local manufacturers across the province as they grow and create more good-paying jobs in their communities,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Investing in these types of community-building projects will help us continue to build Ontario and strengthen the economy. We thank Trusscore for making a significant impact in their community and for contributing to our province’s dynamic and growing manufacturing sector.”
Provincial funding comes through the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program. The project will integrate new technologies by upgrading existing equipment and improving efficiencies in their plastics extrusion manufacturing processes. The project also focuses on the development and commercialization of their “digital paint” concept which allows a user to instantly change the surface colour of Trusscore’s PVC wallboard product through use of smart technology (such as a tablet or smart phone).
Ontario is investing more than $100 million through the Regional Development Program from 2019 to 2023 to strengthen the advanced manufacturing sector and help meet regional needs. The program provides cost-shared funding to businesses, municipalities, and economic development organizations to help local communities attract investment, diversify their economies, and create jobs.
Since 2019, Ontario has provided more than $81 million in support of 75 projects through the Regional Development Program, leveraging more than $860 million in new investments and helping to create more than 1,490 jobs in the province.
The government recently launched the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program. It will support Ontario advanced manufacturers to invest in the equipment, advanced technologies, and skilled workforce needed to improve competitiveness and growth, and to create, retain, and bring jobs back to every region of the province.