February 9, 2021 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
As the Government of Canada continues to address the health, social and economic impacts of COVID-19, it is also working toward a strong economic recovery that will create new jobs and opportunities for workers and businesses alike.
Railcar manufacturing operation will create 83 jobs
The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton-Riverview-Dieppe, along with ARS Canada Rolling Stock Inc. officials today announced a $3 million repayable contribution through ACOA to purchase equipment and retrofit existing buildings to accommodate a railcar manufacturing operation in Moncton. MP Petitpas Taylor made the announcement on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
The production facility, which will serve markets in North and South America, will create 83 new jobs upon opening. That number is expected to grow to more than 100 jobs within the first two years of operation.
Today's announcement further demonstrates the Government of Canada's commitment to keeping communities strong and the manufacturing sector thriving. Funding for strategic projects like ARS Canada Rolling Stock Inc. will help the region seize new opportunities to build a robust, more resilient and sustainable economy in the region.
Quotes
"Meaningful investments in projects like this one with ARS Canada Rolling Stock Inc. have a real and direct impact on communities - creating new jobs and strengthening local economies. By supporting our manufacturing sector and seizing new opportunities to diversify our business landscape, we can - and will - build back stronger than ever."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA
"The rail industry has a long, rich history in Moncton. Today's investment opens a new chapter - and new opportunities - in an industry that has deeply influenced this region for more than a century."
- The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton-Riverview-Dieppe
"For ARS it is an honor to be part of the Moncton industrial community, we appreciate the support that ACOA is giving us in our endeavor and we understand that it is also a great responsibility. We have no doubt that counting on local talent, we will be able to complete our investment and make it sustainable."
- Gerardo Serrao, Vice President of Finance, ARS Canada Rolling Stock Inc.
Quick facts
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ARS will operate in Moncton a railcar manufacturing, maintenance and repurposing facility in complying with the highest operative, quality and safety standards for the North American Industry.
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ACOA's contribution is through the Regional Economic Growth through Innovation (REGI) program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
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In 2020, ACOA invested more than $268.2 million through the REGI program to help companies across a range of sectors expand their capacity, hire more people and acquire new, specialized technology to improve their productivity, including nearly $85 million through the Regional Relief and Recovery Fund (RRRF), helping 380 businesses and protecting more than 5,600 jobs across Atlantic Canada.
