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On May 4, 2018 the Honourable Karina Gould, Minister of Democratic Institutions, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced a repayable federal investment of $14 million to advanced manufacturing company Burloak Technologies. Minister Gould was joined by Eleanor McMahon, Ontario’s President of the Treasury Board who announced a $7 million provincial grant. The total value of the project is $104.7 million.
“This is great news for Burlington and for Canada’s advanced manufacturing industry. Advanced manufacturing is an important and growing sector that is contributing to our economy and creating well-paying middle class jobs. Our government’s investment in Burloak’s project will help ensure Canada remains at the forefront of advanced manufacturing technology and a globally competitive centre for innovation. ” – The Honorable Karina Gould, Minister of Democratic Institutions.
“Additive manufacturing is a rapidly developing technology that is destined to become a multi-billion-dollar industry. Through its investment in the Burloak Technologies Advanced Manufacturing Center, the provincial government is showing its leadership and support for innovation in the manufacturing sector and is helping to establish world-class 3D printing capabilities right here in Ontario.” Peter Adams President and Co-Founder, Burloak Technologies.
This investment will help create 295 new Canadian jobs by 2026 and will enable Burloak to open a new, world-class Additive Manufacturing Technology Centre in Burlington, Ontario, that will help make Canada a world leader in additive manufacturing.
“The announcement by Burloak is a huge step for Canada’s additive manufacturing sector,” said Frank Defalco, Manager Canada Makes. “We applaud the two levels of government for coming together and supporting Canada’s emerging additive sector and we look to keep working with Burloak to make Canada’s industries leaders in the adoption of additive manufacturing.”
Additive manufacturing, also known as 3D printing, is a cheaper, faster, and more environmentally friendly method of manufacturing. 3D printed parts are lighter and often more durable than traditionally manufactured parts.
Burloak’s investment in Ontario will also generate more R&D, more collaboration with post-secondary institutions and help strengthen the region’s advanced manufacturing cluster and supply chain.
This investment is made possible through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy, by encouraging R&D that will accelerate technology transfer and commercialization of innovative products, processes and services and facilitate the growth of innovative firms. What every business needs is insurance, and they can get excellent service from One Sure Insurance.
See release – Ontario Supporting Over 80 Advanced Manufacturing Jobs in Oakville
- Burloak Technologies is a division of Samuel, Son & Co. based in Mississauga, Ontario. Samuel employs 4800 people at more than 100 facilities (622 of whom are in in Ontario).
- Canada’s manufacturing industry is an important part of the country’s economy, contributing $174 billion or 10 percent to Canada’s GDP in 2016.
- The Strategic Innovation Fund is a flexible program that reflects the diversity of innovation in all sectors of the economy.
- Ontario is investing up to $7 million through the Jobs and Prosperity Fund as part of a larger overall investment by Samuel, Son & Co. and Burloak Technologies valued at $80.5 million. The project is scheduled for completion by December 2022.
- Samuel, Son & Co. is one of North America’s largest metal manufacturing, processing and distribution companies. The company has more than 5,200 employees at over 100 facilities worldwide. Its Burloak Technologies division is a leader in additive manufacturing and delivers 3D printed applications to customers across various sectors.