An Oro-Medonte company will be able to create new jobs and retain existing ones thanks to a provincial grant.
JVC Precision Ltd. received more than $1.3 million from the province’s Southwestern Ontario Development Fund (SWODF) to complement the company’s own investment of more than $8.8 million, Simcoe North MPP Jill Dunlop noted in a news release.
The investment will lead to the creation of up to 17 new jobs and the retention of 32 jobs.
The money will go toward a 16,000-square-foot extension to JVC Precision’s 22,000-square-foot facility on Paterson Road.
“JVC Precision will undertake capital improvements to house new, advanced manufacturing equipment and improve their shipping and receiving infrastructure, resulting in the creation of new, highly skilled jobs while bolstering the competitiveness of Ontario’s manufacturing sector,” the release stated.
Dunlop praised the government for its investment.
“We’re creating an environment where businesses can focus on what they do best — developing great products and services and building successful companies,” she said. “It’s great to see JVC Precision invest in new technology and grow their market share while creating jobs and boosting the economy of Simcoe North and Ontario.”
JVC Precision, a metal fabrication company, supplies components and assemblies to companies that manufacture mining vehicles, as well as forestry, agricultural and commercial equipment.
“JVC Precision is thrilled to be awarded funding from the Government of Ontario’s SWODF program for our 2022-2023 strategic plans. This investment will be instrumental in supporting our long-term continued business growth and capital expansion plans in Simcoe County,” said Mike Van Campen, JVC Precision president.
