Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

January 20, 2015 10:45 ET

Harper Government Announces Significant Investment to Expand Patriot Forge Inc., Creating Jobs and Growth

BRANTFORD, ONTARIO--(Marketwired - Jan. 20, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

Patriot Forge will expand its Brantford facility with the help of an investment of up to $10 million announced today by FedDev Ontario Minister Gary Goodyear and Phil McColeman, Member of Parliament for Brant.

The Harper Government's investment will help support the construction of a new production plant that will include state-of-the-art metal forging equipment. Patriot Forge expects to create 75 new full-time jobs during the life of the project as well as 86 full-time jobs within five years of its completion.

FedDev Ontario's repayable contribution is delivered through the Investing in Business Growth and Productivity initiative, which is aimed at helping established businesses expand their operations, invest in productivity improvements and compete globally.

Minister Goodyear and MP McColeman followed the announcement with a visit to Pavaco Products, a recipient of a $500,000 loan through the Southern Ontario Fund for Investment in Innovation. The Minister and MP McColeman then had a roundtable discussion with community and business leaders.

Quick Facts

  • Founded in 1926, Patriot Forge is one of the largest open die forging businesses in Canada. The company manufactures heavy-duty industrial components for a number of industries including defence, aerospace, and oil and gas.
  • The FedDev Ontario contribution will assist in financing a total project cost of approximately $63 million with the vast majority going towards sophisticated forging equipment. The project will include the construction of a 320,000-square-foot production plant that will expand the firm's existing Brantford facility. Patriot Forge anticipates that this expansion will come close to doubling the plant's output capability, and allow the company to be more competitive with international companies in the same field.
  • Investing in Business Growth and Productivity funding is available for eligible small- and medium-sized enterprises and not-for-profit industry associations or regional economic development organizations.

Quotes

"Today's announcement will create positive results for southern Ontario's economy, and is a strong example of our Government's commitment to supporting manufacturing in Ontario."

- The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

"Our Government remains focused on creating the conditions and delivering the support needed for job creators like Patriot Forge to grow and prosper. Today's announcement will support Patriot's plan to undergo a major expansion and create more than 150 high-quality jobs right here in Brantford, and is another sign that our local economy is strengthening."

- Phil McColeman, Member of Parliament for Brant

"Patriot Forge is looking forward to implementing the new machining and forging skills that it has developed for the benefit of its customers. This FedDev Ontario contribution has been a key to making this investment possible."

- John M. Dimitrieff, Chairman & Founder, Patriot Forge Group

Related Products

Speech: Investing in Business Growth and Productivity funding announcement for Patriot Forge

Associated Links

Investing in Business Growth and Productivity initiative

Patriot Forge

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