Scarborough businesses receive funds from feds. Local businesses were among the a larger group of GTHA companies receiving $15 million.
Two Scarborough-based businesses were among eight companies in the region to receive support from the federal government during a recent announcement.
On Wednesday Jan. 14, Liberal cabinet minister Evan Solomon — who is the minister responsible for the Federal Economic Development Agency for Southern Ontario — visited Scarborough company Celplast Metallized Products offices to make the funding announcement for all eight cmpanies throughout the GTHA. The funds total $15 million.
Celplast, which was founded in 1983, received a $1.66 million repayable loan of federal funds.
The purpose of the funding, according to FedDev, is “to purchase and install advanced equipment to meet market demands for its domestically manufactured high-barrier metal coatings and transparent film products.”
The local company is doing innovative technology which will be enhanced by this loan.
“FedDev Ontario’s support has allowed Celplast to invest in the only machine in the world that has the ability to metallize film and apply a protective top-coat in one step,” said Celplast president Dante Ferrari. “This capability continues to be unique to Celplast, which has allowed us to open up new international markets in building insulation and sustainable food packaging.”
The other local funding recipient is Imagoh Foods, which makes food products — primarily meat — to be sold under well known labels like Loblaws, T&T and M&M Food Market.
The food producer will be receiving a $1.5 million repayable contribution. The purpose of the funds is “to adopt advanced manufacturing equipment to improve production capabilities for processed meat and ready-to-eat meals to meet growing market demand.”
Minister Solomon spoke about the GTHA having “a proud manufacturing legacy” and that the projects announced “are building a stronger regional economy and creating opportunities for workers and communities across southern Ontario.”
The terms of the repayable loan were not made public at the time of the announcement.
