Rae announces Over $12 Million Investment in Local Manufacturing Company Expansion

April 8, 2026

[Stratford, ON] — Today, Matthew Rae, MPP for Perth-Wellington, announced $500,00 in funding for the local manufacturing company Magest Building Systems Limited. This investment through the Southwestern Ontario Development Fund, alongside Magest’s own investment of over $12,320,000, will create 30 new good-paying jobs and protect 80 jobs. 

“By investing in Magest’s expansion, we’re protecting local jobs and helping build more homes,” said MPP Rae. “This means increased production in Stratford and more supply to meet demand. This investment is strengthening our manufacturing sector and supporting workers across Perth-Wellington.”

Magest Building Systems Limited will be investing $12,320,000 into an expansion project with the support of the Government of Ontario through the Southwestern Ontario Development Fund’s grant of $500,000. 

With this investment, Magest will complete building additions, install automated equipment, and adopt new software to support growth. Additionally, with the increased space and equipment, Magest will begin a new production line. This expansion comes at a critical time when Magest is at capacity. This growth represents an increased demand for housing materials and this project will allow Magest to meet the demand. By expanding their operations Magest will be alleviating pressure on the housing sector and helping to build more homes across Ontario. 

“Employing more than 800,000 workers across the province, Ontario’s manufacturing sector is the economic engine of our nation,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support local companies like Magest Building Systems Limited as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.” 

“Magest is proud to receive support from the Southwestern Ontario Development Fund (SWODF) for our new hollowcore production facility in Stratford. This investment has created 30 local jobs, strengthened vertical integration across our operations, and expanded capacity for the multi-residential housing sector,” said Brock Martin, President of Magest Building Systems Limited. “By increasing efficiency and production, this project supports the Government of Canada’s Build Canada Homes Faster initiative and helps address the growing demand for housing across the region.”

Ontario is investing over $230 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 180 projects through the program, leveraging more than $2.6 billion in new investments and helping to create over 5,500 jobs.