Canada Economic Development

Canada Economic Development

November 29, 2010 10:00 ET

Development of the Aeronautics Sector in Mauricie: Government of Canada Grants $300,000 in Funding to JW Plastic Inc. for Purchase of Specialized Equipment

TROIS-RIVIÈRES, QUEBEC--(Marketwire - Nov. 29, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $300,000 in repayable funding to the firm JW Plastic Inc. Granted through the Community Adjustment Fund established under Canada's Economic Action Plan, this financial assistance will enable the company to acquire specialized equipment in order to increase its production capacity and more effectively serve the North American market. This initiative will result in the creation of 12 new jobs and the maintenance of 11 existing positions over the next two years.

Founded in 2009, JW Plastic Inc. is the Canadian subsidiary of Josef Weiss Plastic, an international corporation headquartered in Germany. JW Plastic Inc. specializes in the manufacture of clear thermoformed plastic products such as windows, windshields, landing light protectors and so on, for use primarily in the aeronautics sector. Establishing the firm and carrying out this equipment acquisition project have necessitated an overall investment of some $2.3 million. 

"Canada Economic Development is proud to support the startup of enterprises that help further the economic diversification of Quebec's regions. The arrival of JW Plastic Inc. in Trois-Rivières has given new impetus to the development of the aeronautics sector in the Mauricie region," explained Minister of State Lebel.

With the assistance of the special measures provided for under Canada's Economic Action Plan, the Canadian economy has begun to recover despite the more fragile global economic recovery. "The implementation of Phase II of this plan will help further lay the foundations for solid long-term economic growth and job creation. The project we are announcing today is a concrete example of that," concluded the Minister of State. By 2011, Canada's Economic Action Plan will have translated into nearly $62 billion in funding being injected into the Canadian economy.

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