Regional Tariff Response Initiative investment will enable Core Design to double manufacturing capacity and grow sales in reliable domestic and international markets
Tariffs and shifting global trade conditions are creating uncertainty for Canadian businesses, particularly for manufacturers that rely on export markets. To build a stronger, more resilient economy, Canada has to move beyond its reliance on a single trading partner and reach new markets, at home and abroad.
Today, the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan) announced a federal investment of $1 million for Core Design Ltd. (Core Design) to adapt to new market realities for their custom steel downhole completion products.
PrairiesCan's investment will enable Core Design to purchase specialized machinery that doubles the manufacturing capacity of their high-performance steel-made downhole tools and thermal solutions used in oil and gas sector operations. This increased capacity will make it possible for Core Design to fulfill larger custom steel manufacturing projects within Canada and help expand sales in South America.
Like many other Canadian exports, Core Design's steel products are impacted by tariffs from the United States and other international markets. The Government of Canada has launched specific targeted measures, including the Regional Tariff Response Initiative, to boost the competitiveness of the Canadian steel industry and to unlock over $1 billion in new domestic demand for Canadian steel. The government also launched a new $1 billion investment for the steel and lumber industries, ensuring Canadian producers can compete and grow at home.
Innovative Prairie businesses, like Core Design, are adapting quickly to new trade realities. The Government of Canada is proud to support companies that demonstrate meaningful action to diversify markets, create local jobs, and reinforce Canada's economic security.
