Scarborough Welcomes $17.4 Million Aerospace Technology Investment
April 13, 2023
Through $2.6 million in provincial funding, Firan Technology Group will create 41 good-paying jobs in Toronto
April 12, 2023
SCARBOROUGH, ON — The Ontario government is supporting a $17.4 million investment by Firan Technology Group (FTG), a global manufacturer of electronic products for the aerospace and defense markets. This investment will boost local technology manufacturing and assembly and create 41 good-paying jobs in Toronto. As part of this investment, the Ontario government is providing FTG with $2.6 million through the Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of the province’s Regional Development Program.
“I am very pleased to see this major investment by a leading business in technology manufacturing and assembly locally, resulting in the creation of good-paying jobs in our community,” said Raymond Cho, MPP for Scarborough North. “This investment will not only boost our local economy, but will also strengthen Scarborough’s advanced manufacturing sector. I look forward to seeing the positive impact this investment will have in Scarborough and the province as a whole.”
FTG is investing $17.4 million to improve their product development process to expand offerings with the help of new and innovative equipment and machinery. This exciting new project will include improved customer responsiveness and production yields, advanced manufacturing capability, reduced waste and energy consumption and improved cybersecurity. These upgrades will happen at FTG’s two operating sites in Ontario, FTG Circuits Toronto and FTG Aerospace Toronto, creating 41 new jobs.
“FTG has a proven track record of growth resulting from investments in people, processes and tools. FTG will generate additional growth opportunities through innovation and technology adoption,” said Brad Bourne, President and CEO, Firan Technology Group Corporation. “With the help of the AMIC funding, FTG will accelerate its investment in its Canadian businesses and continue on a strong growth trajectory to the benefit of all stakeholders including customers, employees, suppliers and the Canadian economy.”
Ontario is investing more than $100 million through the Regional Development Program from 2019 to 2023 to strengthen advanced manufacturing sectors in regions across the province. The program provides cost-shared funding to businesses, municipalities and economic development organizations to help local communities attract investment, diversify their economies, and create jobs.
Since 2019, Ontario has provided more than $81 million in support of 75 projects through the Regional Development Program, leveraging more than $860 million in new investments and helping to create more than 1,490 jobs in the province.
“Our government is proud to support local manufacturers across the province as they grow and create more good-paying jobs in their communities,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Investing in these types of community-building projects will help us continue to build Ontario and strengthen the economy. We thank Firan Technology Group for making a significant impact in their community and for contributing to our province’s dynamic and growing manufacturing sector.”
QUICK FACTS
- As part of the 2023 Ontario Budget, the government is proposing a new Ontario Made Manufacturing Investment Tax Credit, which would provide a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
- The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Businesses and municipalities can get financial support through the Eastern Ontario Development Fund and Southwestern Ontario Development Fund and guided access to a range of complementary services and supports.
- The government recently launched the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program. It will support Ontario advanced manufacturers to invest in the equipment, advanced technologies and skilled workforce needed to improve competitiveness and growth, and to create, retain and bring jobs back to every region of the province.
- Ontario’s aerospace industry is the second largest in Canada, representing approximately 22 per cent of all Canadian activity.
QUOTES
“Once again, Scarborough is the focus of our governments attention and care by providing $2.6 million to Firan Technology Group Corporation to expand their manufacturing facilities and provide 41 new good paying job to our residents. Ontario is becoming a magnet for investor and entrepreneurs to build the future economy of Ontario and Canada. Congratulations to FTG for their expansion and making Scarborough the hub of their manufacturing.”
Aris Babikian, MPP – Scarborough-Agincourt
“I am excited to welcome Firan Technology Group’s $17.4 million investment into Scarborough in partnership with our government, creating 41 good-paying jobs while supporting our local manufacturing industry. This is great news for the people of Scarborough as well as the entire province that will benefit from Ontario-made aerospace technology.”
– Vijay Thanigasalam, MPP – Scarborough-Rouge Park
““FTG’s investment is a testament that through our Regional Development Program, our government is continuing to bring manufacturing jobs back to Scarborough and Ontario, while also supporting our manufacturers lower their costs, innovate, expand, and become more competitive.”
– David Smith, MPP – Scarborough Centre
ADDITIONAL RESOURCES
2023 Ontario Budget
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