Ontario Welcomes $5.6M Manufacturing Investment in Newmarket

Precambrian Products Inc.’s  expansion will create good-paying jobs for Ontario workers

The Ontario government is welcoming an investment of $5.6 million by Precambrian Products Inc. to expand their facility, creating 32 new good-paying jobs in Newmarket.

Precambrian Products Inc.’s investment was announced today by Dawn Gallagher Murphy, Member of Provincial Parliament for Newmarket—Aurora.

“Our government is building a strong Ontario and strengthening the economy by supporting key investments in communities like Newmarket,” said MPP Dawn Gallagher Murphy. “Precambrian Products Inc.’s investment will boost the local manufacturing sector and create good-paying jobs for workers and families in Newmarket.”

With its investment, Precambrian Products Inc. will install five new extruders across four production lines. Their new project will help produce integrated composite products for novel applications across several industries including the healthcare, construction and automotive sectors.

“Our government is proud to support local manufacturers across the province as they grow and create more good-paying jobs in their communities,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We thank Precambrian Products Inc. for their investment and for contributing to our province’s dynamic and growing manufacturing sector.”

In support of their investment, the government is providing Precambrian Products Inc. with $880,695 in funding through the Regional Development Program’s Advanced Manufacturing and Innovation Competitiveness (AMIC) stream.

“We at Precambrian Products Inc. are grateful for Ontario’s $880,695 support through AMIC,” said Dave Lea, CEO of Precambrian Products Inc “This investment empowers us to expand in Ontario, create jobs, and develop next-generation non-woven fabrics. Our partnership with the government strengthens both our industry and the local economy, driving innovation and growth.”

Ontario is investing $170 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 120 projects through the program, leveraging more than $1.8 billion in new investments and helping to create over 3,300 jobs.

Applications for the next intake round of Regional Development funding remain open until September 26, 2024.