FedDev Ontario funding supports 23 businesses and organizations to grow, strengthen domestic supply chains, and advance next-generation defence, security and AI technologies.
The Waterloo and Brant regions are home to diverse businesses and organizations that drive economic growth and innovation in many sectors, including advanced manufacturing, technology and defence. As global market conditions evolve, strategic investments will help build capacity, improve productivity, and strengthen competitiveness.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), joined by the Honourable Bardish Chagger, Member of Parliament for Waterloo, and Tim Louis, Parliamentary Secretary to the President of the King's Privy Council for Canada and Minister responsible for Canada-United States (U.S.) Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy and Member of Parliament for Kitchener-Conestoga, announced a combined investment of nearly $40.5 million through the Regional Tariff Response Initiative and the Regional Defence Investment Initiative (RDII) for 23 Waterloo and Brant region businesses and organizations: Armour Alloys, Ascension Automation Solutions, Bock North America, Canada Steel Corporation, Canadian Strategic Missions Corporation, Cello Products, Cravo Equipment, Eclipse Automation, Emtek Processed Alloys Inc., Fowler Metal Industries, Koolatron, LabsCubed, Massilly North America, MW Canada, Navitas Vehicle Systems, NV Piping Systems, Qorsa Corporation, Quantum Valley Ideas Laboratories, SLACAN Industries, Trylon TSF, VueReal, Walters Inc., and XLTool. Details on the projects receiving support can be found in the backgrounder.
This includes an investment for XL Tool Inc. to modernize operations, and expand domestic technical capabilities, supporting entry into the defence and aerospace markets. The company is undertaking a more than $4-million project, with FedDev Ontario supporting up to $1 million.
The Government of Canada is committed to strengthening Canadian businesses and organizations, supporting workers, enhancing supply chain resilience, and advancing innovative technologies that bolster national security, competitiveness, and long-term economic growth.
