Imperial Manufacturing of Richibucto benefits from ACOA support for steel and aluminum sector

From: Atlantic Canada Opportunities Agency

August 9, 2019 – Richibucto, N.B. – Atlantic Canada Opportunities Agency

Canada’s steel and aluminum sectors are key contributors to the Canadian economy, providing well-paying jobs in regions across Canada.

Today, the Honourable Dominic LeBlanc, Minister of Intergovernmental Affairs, Northern Affairs and Internal Trade and Member of Parliament for Beauséjour, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced $500,000 in funding for Imperial Manufacturing of Richibucto.

The funding is being provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March 2019. Delivered by Canada’s regional development agencies, the funding provides targeted support to Canadian small and medium-sized businesses in the steel, aluminum and manufacturing sectors through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly skilled jobs. The Province of New Brunswick also contributed $113,412 to the project.

With this funding, Imperial Manufacturing will purchase advanced manufacturing equipment to improve productivity and increase domestic and export sales, maintaining 465 well-paying middle-class jobs and creating up to 15 new ones.

Canada’s steel and aluminum sector is an important contributor to our economy and to our manufacturing supply chains, providing thousands of Canadians with good middle-class jobs. This funding initiative provides small and medium-sized businesses with consistent support across all regions of Canada, while allowing for support to be tailored to meet regional needs.

Quotes

“Our government supports the hard-working steel and aluminum workers and companies that are important to regional economies across Canada. Our investments to support small and medium-sized producers and users of steel and aluminum will help these businesses innovate to drive productivity, scale up and expand into new markets to create good middle-class jobs.”

– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“The small and medium-sized businesses in our steel and aluminum industries are important contributors to the economic vitality of communities across the country. Small and medium-sized businesses are the backbone of our economy, and by investing in their success, we are investing in the success of all Canadians.”

– The Honourable Mary Ng, Minister of Small Business and Export Promotion

“This funding will help Imperial Manufacturing maintain numerous jobs in rural New Brunswick, while also creating up to 15 new jobs and providing training to employees. This investment will also help ensure the company’s engineers and workers have the tools they need to continue making technological advances that will improve product quality and give them an edge in the competitive global marketplace. Imperial Manufacturing’s continued success is important to the economy of our entire region, and I am pleased to see our government’s support for their continued growth. “

– The Honourable Dominic LeBlanc, Minister of Intergovernmental Affairs, Northern Affairs and Internal Trade and Member of Parliament for Beauséjour

“Our government is focused on energizing the private sector and that includes supporting companies as they expand into new markets. Imperial Manufacturing is an excellent example of the kind of success New Brunswick businesses can achieve when they have the right kind of support and the right kind of conditions to help them be compete in global markets.”

– The Honourable Mary E. Wilson, New Brunswick Minister of Economic Development and Small Business Minister responsible for Opportunities NB

“As we celebrate our 40th anniversary in 2019, we want to expand here in New Brunswick, where our roots are. This funding will help Imperial Manufacturing invest in new equipment and technological upgrades that will make us more competitive and able to explore new opportunities.”

– Norm Caissie, Founder and CEO, Imperial Manufacturing

Quick facts

  • Regional development agencies are one of Canada’s four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.

  • The Regional Economic Growth through Innovation program builds on the objectives of the Innovation and Skills Plan by providing regionally tailored, nationally consistent support for business productivity and scale-up and by helping enhance regional technology clusters and innovation ecosystems.

  • In 2018, Canada’s steel and aluminum industry employed more than 33,500 Canadians and contributed $8.9 billion to Canada’s gross domestic product.

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