Ontario Welcomes $10.6 Million Manufacturing Investment

November 28, 2024

Mircom Technologies Ltd. will create 57 new, good-paying jobs in Thornhill

NEWS November 28th, 2024

THORNHILL — The Ontario government is supporting an investment of $10,600,000 by Mircom Technologies Ltd. to boost local manufacturing and create 57 new, good-paying jobs in Thornhill.

This funding was announced today by Laura Smith, Member of Provincial Parliament for Thornhill.

“Our government is building a strong Ontario and creating the conditions for a strong economy by supporting key investments in our community,” said MPP Smith. “Mircom Technologies Ltd.’s investment will boost the local manufacturing sector and create more good-paying jobs for workers and families in York Region.”

A Vaughan-based global designer and manufacturer of fire life safety and building automation technologies, Mircom Technologies Ltd., is investing $10.6 million to implement an advanced enterprise resource planning (ERP) software system designed to enhance productivity and streamline operations. The investment will also support the acquisition of manufacturing automation equipment to optimize printed circuit board production, final assembly, and inventory management.

“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. “Our government is proud to support local companies like Mircom Technologies Ltd as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.”

In support of this investment, Ontario is providing Mircom Technologies Ltd. with $1,500,000 in funding through the Regional Development Program’s Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream.

“Mircom is appreciative of the support provided by the provincial government,” said Dion Diamond, Chief Financial Officer at Mircom Group of Companies. “Investments like this help Ontario companies to become more globally competitive, increasing jobs, skills and capabilities at home.”

Ontario is investing $180 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 135 projects through the program, leveraging more than $1.9 billion in new investments and helping to create over 3,500 jobs.

QUICK FACTS

  • The government launched the Regional Development Program (RDP) for eastern and southwestern regions of Ontario in November 2019. Through this program, businesses and municipalities can get financial support and guided access to a range of complementary services and supports.
  • In 2022, the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream that will help more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.
  • The government is delivering tax support to Ontario manufacturers by continuing to offer the Ontario Made Manufacturing Investment Tax Credit to eligible businesses. These manufacturers could receive up to $2 million per year in tax support to help lower their costs, encourage innovation, and enhance competitiveness.
  • The 2024 Ontario Economic Outlook and Fiscal Review: Building Ontario for You continues to take a fiscally responsible and targeted approach to maintaining Ontario’s competitive status and unlocking new opportunities across key sectors.

ADDITIONAL RESOURCES

MEDIA CONTACTS
MPP Laura Smith’s Office
1136 Centre Street
Thornhill ON L4J 3M8
905-731-1178
Laura.smith@pc.ola.org