In a significant boost to Orillia’s manufacturing sector, EcoPoly Properties Inc., a leading producer and supplier of plastic products, has announced a substantial investment of over $32 million into its facility. The investment is expected to create 85 new, well-paying jobs for local workers, reinforcing Ontario’s economic growth.
The announcement was made by Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, who praised EcoPoly’s commitment to expansion and job creation. He emphasized the government’s support for fostering conducive conditions for manufacturers to thrive and contribute to community prosperity.
Established in 1991, EcoPoly Properties Inc. stands as the world’s first full-service plastics laboratory and manufacturing facility. Specializing in the production of high-quality biodegradable plastic products, the company serves a diverse range of industries. This investment will allow EcoPoly to acquire new equipment and automation, enhancing its production capacity and competitiveness within the North American market.
NEW: EcoPoly Properties Inc. is investing $32M+ in their #Orillia manufacturing facilities.
With $3.5M in support through our Southwestern Ontario Development Fund, they are creating 85 new, local jobs!
Learn more: https://t.co/dPZVmopUHc pic.twitter.com/J6wHm7pAKK
— Victor Fedeli (@VictorFedeli) March 21, 2024
Bryon Wolff, Chief Technology Officer of EcoPoly Properties Inc., expressed pride in the company’s growth trajectory and credited the support received from the Southwestern Ontario Development Fund (SWODF) as instrumental in their success. He highlighted the significance of starting as a small-town Ontario business and evolving into a global competitor.
The Ontario government’s Regional Development Program has played a crucial role in supporting initiatives like EcoPoly’s expansion. With over $3.5 million in funding allocated to this project, the government aims to facilitate regional growth while addressing specific challenges faced by local businesses.
Ontario’s commitment to fostering manufacturing growth is further evidenced by initiatives such as the Ontario Made Manufacturing Investment Tax Credit. This initiative provides a 10% refundable Corporate Income Tax credit to empower local manufacturers to innovate, invest in their workforce, and enhance competitiveness.
As applications for the next intake round of Regional Development Program funding are set to begin on April 11, 2024, businesses and municipalities are encouraged to seize the opportunity to access financial support and complementary services.
The investment by EcoPoly Properties Inc. not only signifies a milestone for the company but also underscores the resilience and potential of Ontario’s manufacturing sector, contributing to the province’s economic prosperity and job creation efforts.
For further information about the Regional Development Program and funding opportunities, interested parties are encouraged to visit the official Ontario government website.
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