Ontario Investing $1,700,800 to Protect Tariff-Impacted Workers and Businesses in Newmarket
March 5, 2026
Exco Engineering’s $4,252,000 project will protect and create 144 jobs
NEWMARKET —The Ontario government is investing $1,700,800 through the Ontario Together Trade Fund (OTTF) to help Exco Engineering increase resilience, build capacity and re-shore critical supply chains to Ontario.
Through this investment, Exco Engineering will invest $4,252,000 to adopt new capabilities, including the acquisition of an advanced, large-scale horizontal CNC milling machine. This project will enable the company to reshore advanced tool and die production from China, addressing three urgent risks: the rising threat of U.S. tariffs on automotive tooling, costly and unpredictable international shipping, and reduced control over proprietary designs. The investment will create 4 new, good-paying jobs and protect 140 existing positions in Newmarket.
“Through the Ontario Together Trade Fund, our government is stepping up for the businesses in our community who’ve been directly affected by U.S. tariffs,” said, MPP Dawn Gallagher Murphy, Member of Provincial Parliament for Newmarket—Aurora. “Exco Engineering’s investment will help them adapt, stay competitive and continue creating good jobs in these uncertain times, all while helping make Ontario’s economy more competitive, resilient and self-reliant.”
First announced as part of the 2025 Ontario Budget, the OTTF is part of the province’s nearly $30 billion tariff relief and support plan, dedicated to protecting the province’s workers and businesses from economic uncertainty and building a more competitive, resilient and self-reliant economy. With a focus on small and medium-sized enterprises, the program will help businesses across a diverse range of sectors make the necessary investments to strengthen operations in Ontario, expand market reach and protect workers.
Since its launch, the OTTF has received overwhelming demand and in response to this, the government announced an additional $100 million investment into the program last year, bringing the total funding to $150 million over three years. The increased support will enable businesses affected by U.S. tariffs to return production to Ontario, identify new sales opportunities and expand interprovincial trade.
“This project reflects the kind of focused investment Ontario needs to strengthen domestic manufacturing,” said Jeff Blackburn, Vice President of Exco Engineering. “With the province’s support, we are reshoring critical tooling capacity, protecting jobs, and building a more resilient supply chain here at home.”
“As U.S. tariffs continue to threaten Ontario’s critical industries, our government remains focused on ensuring our businesses have the resources needed to adapt and expand,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “By investing in Exco Engineering through the Ontario Together Trade Fund, we are taking decisive action to enhance the competitiveness of our economy and increasing opportunities for Ontario businesses and workers, now and for generations to come.”
As Ontario continues to navigate the impact of U.S. tariffs and global economic uncertainty, the government remains focused on delivering critical funding, cutting red tape, unleashing the economy and supporting workers.
QUICK FACTS
- Through the OTTF, the government is also providing complementary supports and services to help businesses navigate regulatory requirements, connect with skilled talent and access government programs that accelerate project success.
- Open to Ontario-based businesses investing a minimum of $200,000, eligible projects include modification of existing products to enter new sectors, procurement of advanced equipment and facility modification to enhance domestic manufacturing and sales expansion.
ADDITIONAL RESOURCES