‘The benefits reach far beyond one business’: $5.4M investment helps Soluroc Cobourg grow, create jobs
By editor/reporter Sarah Hyatt
With a $5.4-million investment by Soluroc Cobourg, there’s more than a dose of good news going around for the manufacturing sector and the broader region, say officials.
A parts manufacturer for the mining and heavy industrial sector, the $5,411,130 investment is helping to retain more than two dozen jobs and create 12 new gigs. And in support of this investment, the provincial government is also chipping in $500,000 through its Regional Development Program’s Eastern Ontario Development Program, Northumberland-Peterborough South MPP David Piccini has announced.
The overall injection is also supposed to help increase production capacity and with an expansion, attendees heard, as the MPP recently toured the Brook Road North location to see first-hand the growth underway at the facility.
“In a period when many manufacturers are pulling back, we chose to invest,” said Christian Gagnon, CEO of Soluroc. “Doubling our Cobourg footprint and adding a ‘Chrome Carbide’ overlay line gives us the capacity to serve mining and heavy industry customers in new markets from right here in Northumberland County.
“The support of the Eastern Ontario Development Program helped us move on this opportunity faster than we could have on our own, and that speed matters when markets are shifting.”
Piccini said the provincial boost will benefit not just Cobourg but the broader region and beyond.
“By supporting strategic investments from regional businesses, our government is protecting Ontario’s workers and creating the conditions for a strong, stable and resilient economy,” he said.
“Soluroc is making significant investments in advanced manufacturing that will strengthen local production, support innovation and create more good-paying jobs for workers and families in Northumberland-Peterborough South.”
In terms of more specifics, the investment is helping Soluroc Cobourg expand its existing facility by a reported 18,000 square feet and obtain new advanced manufacturing equipment such as CNC-controlled waterjet cutters, automated welding systems, roll-forming lines, surface grinders and an Industry 4.0 connectivity platform.
“The expansion will also support the reshoring of manufacturing capabilities that are currently outsourced to suppliers in the United States and Europe,” reads a recent release from Piccini’s office.
Darla Price, executive director of the Northumberland Manufacturers’ Association, has also welcomed the news of continued provincial investments in the sector, saying these investments are a strong reflection of the confidence in local industry and the important role manufacturing plays in the community.
“When a local manufacturer grows, the benefits reach far beyond one business – it creates jobs, strengthens our supply chain, supports local families and contributes to the overall economic strength of our community,” continued Price. “The NMA is proud to see our manufacturers succeeding and investing in their future here in Northumberland.
“We look forward to seeing this investment translate into continued growth, innovation and opportunity for our entire manufacturing community.”
According to the province, the Ontario government is investing more than $250 million through the Regional Development Program to help manufacturers grow and support distinct regional priorities. The province stated that to date, Ontario has already supported more than 215 projects through the program, helping to leverage more than $2.8 billion in new investments and create more than 5,900 jobs.
“Employing more than 800,000 workers across the province, Ontario’s manufacturing sector is the economic engine of our nation,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade, in a recent release. “Our government is proud to support local companies like Soluroc Cobourg as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.”
Ontario’s Regional Development Program for eastern and southwestern regions launched in November 2019. According to the province, this program helps businesses and municipalities through financial boosts and guided access to a range of complementary services and supports.
The Ontario government has also launched a new $150-million Ontario Together Trade Fund to help businesses take advantage of new interprovincial trade opportunities.
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