Manufacturers across Canada are always looking for new ways to innovate, stay competitive and better position themselves for growth. As technology plays a key role in growth, businesses like Razor Contract Manufacturing are adopting advanced equipment, embracing research and development, and developing highly skilled workforces.
Federal and provincial investments will help meet increased export demand
Today, Wayne Long, Member of Parliament for Saint John - Rothesay, announced a repayable contribution of $950,000 to Razor Contract Manufacturing, through the Atlantic Canada Opportunities Agency's (ACOA) Regional Economic Growth through Innovation (REGI) program. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
The Honourable Arlene Dunn, Minister responsible for Opportunities New Brunswick, also announced contributions of $235,000 in payroll rebate assistance for the company's workforce expansion and a $412,500 conditionally-repayable loan for productivity improvements.
These investments will help the company purchase new automated equipment, increasing its production capacity and performance. These improvements will help Razor Contract Manufacturing meet growing customer demand in Canada and North America. The project will also create up to 29 skilled and well-paying new jobs.
Today's announcement further demonstrates the Government of Canada's commitment to building a strong Canadian economy by helping small and medium-sized businesses increase competitiveness and take advantage of growth opportunities.
