Ontario Welcomes Manufacturing Investment in Grey County

Shouldice Stone expanding facility which will create and help retain jobs in Shallow Lake

(l-r): Shouldice Stone CEO Chris Pedersen and Bruce-Grey-Owen Sound MPP Rick Byers

September 20, 2024

SHALLOW LAKE — The Ontario government is supporting an investment by Shouldice Stone to boost local manufacturing and create new good-paying jobs in the area.

In support of their investment, the government is providing Shouldice Stone with $500,000 in funding through the Regional Development Program’s Southwestern Ontario Development Fund (SWODF).

This funding was announced today by Rick Byers, Member of Provincial Parliament for Bruce-Grey-Owen Sound.

“Our government is building a strong Ontario and creating the conditions for a strong economy by supporting key investments in our community,” said MPP Rick Byers. “Shouldice Stone’s investment will boost the local manufacturing sector and create jobs for workers in Bruce and Grey counties.”

“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. “We thank Shouldice Stone for their investment and for contributing to our province’s dynamic and growing manufacturing sector.”

“As we open the doors to our new office, we are not merely unveiling a new space; we are laying the foundation for a future defined by innovation and excellence. This facility will be a crucial platform for us to drive cutting-edge solutions and enhance our customer experience. We’re thrilled with the immediate improvements we’ve already observed in our customer service and manufacturing efficiency and we’re equally excited about the long-term prospects for growth and innovation,” said CEO Chris Pedersen. “We are also pleased to announce that we will be making substantial investments in our manufacturing facilities over the coming months, supported by the Southwestern Ontario Development Fund, which will help create new jobs and further bolster the manufacturing sector in Ontario. Our team is enthusiastic about this significant transformation, and we look forward to achieving new heights together. It’s a pleasure to celebrate this milestone with our valued partners.”

Ontario is investing $180 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 130 projects through the program, leveraging more than $1.8 billion in new investments and helping to create over 3,400 jobs.

Applications for the next intake round of Regional Development funding remain open until September 26, 2024.

QUICK FACTS

  • As part of the 2023 Ontario Budget, the government is proposing a new Ontario Made Manufacturing Investment Tax Credit, which would provide a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
  • The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Businesses and municipalities can get financial support through the Eastern Ontario Development Fund and Southwestern Ontario Development Fund and guided access to a range of complementary services and supports.
  • In 2022, the Advanced Manufacturing & Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream by providing more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.

ADDITIONAL RESOURCES