Two Kingston manufacturing companies are investing in their operations and creating 70 jobs in the region.
Two Kingston manufacturing companies are investing in their operations and creating 70 jobs in the region.
IPG Photonics, a global manufacturer of optical sensors and software, is investing more than $21 million to build a new production facility in Kingston.
At the same time, Cancoil Thermal, a Kingston-based manufacturer and designer of heat exchangers and equipment used in refrigeration, air conditioning and heating, is investing more than $16 million to install new equipment at its existing facilities.
Together, these investments will create 70 new jobs for the region and help bolster the local manufacturing industry, the Ontario government said in a news release earlier this week.
A world leader in fibre laser solutions, IPG Photonics is investing in the construction of a new 37,300-square-foot facility to expand production and meet demand from clients in the automotive and consumer electronics industries. The project will create 20 new jobs.
Cancoil Thermal’s investment will install new manufacturing and R&D equipment at its Kingston facilities, creating 50 new jobs.
As part of these investments, the province is providing the companies with more than $3.5 million in support through the Regional Development Program (RDP).
“This significant funding will be utilized to build a state-of-the-art facility here in Kingston for our world-renowned weld-monitoring technology. This new facility will drive IPG’s expansion activities, including the development of new products, advanced R&D, and improvements in software, engineering and manufacturing processes,” said Paul Webster, president and chief technology officer at IPG. “It will also enhance our global customer support capabilities.”
Monika Datta, technical marketing and sales at Cancoil, said the funding will go toward investments in “state-of-the-art equipment” to boost capacity and efficiency.
“This investment also sustains our commitment to supporting and investing in our employees and community,” Datta added.
“Building on a long history of manufacturing excellence in Kingston, these investments demonstrate that our government’s targeted approach to fostering economic stability and growth is working,” Vic Fedeli, minister of economic development, job creation and trade, said in the release.
Shelley Hirstwood, director of business development at Kingston Economic Development, told OBJ that the growth of these local companies is “a testament to the importance of supporting business retention and expansion.”
“I think a lot of what's driving this is the talent, the innovation, and we've got such a great business community in Kingston that is really pushing the boundaries on technology development,” she told OBJ. “There's a lot of support for investment and continued growth.
“Whether it's through support in accessing programs or resources or even connections in national markets, through our office or through the various ministries, we're really always there to support companies in our growth,” Hirstwood continued. “I think this is a great example of companies that have utilized funding programs to help continue through growth plans.”
