Inside Dynaplas' Scarborough, Ontario manufacturing facility
The Ontario government today announced a $5 million dollar plan to help smaller auto parts manufacturers adopt new technologies and increase productivity.
Brad Duguid, the province's Minister of Economic Development, Employment and Infrastructure made the announcement in a press conference at Dynaplas Ltd., a Scarborough-based auto parts company whose global customers include Bosch, Borg-Warner, GM, Magna, and Continental.
Today's other announcement was for $10 million worth of funding for the Canadian Urban Transit Research and Innovation Consortium, an R&D centre working in partnership with the federal and Quebec governments.
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Both investments are part of a larger, five-year, $400 million plan to "grow the economy and create jobs by promoting an innovation-based economy." Duguid said his plan will produce "global frontrunners that lead technological disruption" by lowering the cost of doing business and supporting innovation.
Other aspects of the Ontario government's plan include improving access to college and university education, and "helping Ontarians achieve a more secure retirement."
The press release says the auto industry contributes $16 billion annually to Ontario's gross domestic product. It has suffered setbacks in the past year, however: Last fall, General Motors moved Camaro production from its Oshawa factory to a Lansing, MI plant; and about a year ago, Toyota announced it will ship Corolla production to Mexico from its Cambridge, Ontario factory.