Modern cutting-edge establishment establishes residence in Innisfil, generating 151 fresh employment opportunities worth $207M
NTC Investment to Bring State-of-the-Art Facility and 151 New Jobs to Innisfil, Ontario
Northern Transformer Corporation (NTC), a leading Canadian manufacturer of high-voltage power transformers, is set to establish a new, state-of-the-art facility in Innisfil, Ontario. This investment, worth nearly $207 million, will not only boost the company's production capacity and technical capabilities but also create 151 new jobs in the community.
The Ontario Government, through the Invest Ontario Fund, is providing $10.5 million in funding for this project. This investment aligns with Ontario's commitment to create high-value jobs and strengthen Ontario-made supply chains.
Vic Fedeli, Minister of Economic Development, Job Creation, and Trade, expressed his approval, stating that the investment aligns with Ontario's commitment to create high-value jobs and strengthen Ontario-made supply chains. Stephen Lecce, Minister of Energy and Mines, added that the investment supports Ontario's Integrated Energy Plan.
NTC's new facility will test high-voltage transformers with power-handling capabilities of up to 500 kV and 750 MVA. The aim is to increase the province's capacity to support grid modernization and electrification initiatives across North America. This move marks NTC's entrance into the large power transformer market.
Andrea Khanjin, MPP for Barrie-Innisfil, stated that NTC's investment will strengthen Ontario's energy sector and supply chains for years to come. The mayor of Innisfil, Lynn Dollin, expressed her excitement about welcoming NTC to the community, stating that the investment strengthens Innisfil's position as a hub for advanced manufacturing.
The Ontario Government's aim is to reduce reliance on imported, foreign materials by obtaining source wiring, insulation, and electrical steel from Ontario-based suppliers. This initiative is part of a larger strategy to create a robust, locally-sourced supply chain in the province.
Since its inception, Invest Ontario has announced over $7.6 billion in investments, leading to the creation of more than 9,700 good-paying jobs. Last year, the government announced that manufacturing accounted for over 800,000 jobs across Ontario.
Alexei Miecznikowski, president and CEO of Northern Transformer Corporation, stated that the company is expanding its footprint in Ontario to meet the rising demand for large power transformers. The new facility will generate over 150 new jobs, contributing to the province's economic growth and job market.
This investment is a significant step forward in Ontario's efforts to strengthen its manufacturing sector and support local businesses. The town of Innisfil is looking forward to the benefits this new facility will bring, both in terms of economic growth and job creation.
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