Support for Velocity Machining & Welding will speed up production for supply chains across aerospace, marine and transportation industries
Strong Canadian manufacturers are essential to building a more productive, resilient economy. They create good jobs, strengthen supply chains and help businesses compete and grow.
Today, Braedon Clark, Member of Parliament for Sackville-Bedford-Preston, announced a repayable contribution of $875,500 for Velocity Machining & Welding Inc.
This investment will support the purchase and installation of automated machining equipment at Velocity's Dartmouth facility. By adopting advanced technology, the company will increase production of industrial components and deliver them more quickly to customers in aerospace, marine, transportation and other key sectors. The project will also help address skilled labour shortages by enabling the company to do more with its existing workforce.
Today's announcement further demonstrates the Government of Canada's commitment to helping Canadian businesses invest in new technologies, boost productivity and build a stronger, more competitive economy.
The announcement was made on behalf of the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency.
