The McGuinty government pledged its support today to help a local manufacturer expand its facilities and in turn create new jobs.
Nipissing MPP Monique Smith announced Rahn Plastics qualified for a 700-thousand-dollar Northern Ontario Heritage Fund Corporation (NOHFC) loan to purchase a new plant and equipment
Full Details contained in the news release below.
The McGuinty government is helping a North Bay manufacturer expand and create new jobs by investing in the relocation of Rahn Plastics to larger facilities, Nipissing MPP Monique Smith announced today.
The Northern Ontario Heritage Fund Corporation (NOHFC) is providing a $700,000 loan to Rahn Plastics for the purchase of a new plant and equipment, including facility upgrades. The company, which manufactures high pressure polyethylene fittings for large natural gas and water pipe customers, will relocate its operations to a much-larger 34,000-square foot facility on Ferris Drive in North Bay. This expansion project is expected to help create about 10 new jobs over the next three years.
“As the only major manufacturer of polyethylene fittings in Canada, Rahn Plastics has developed a lower cost and more durable alternative to base metal products,” said Nipissing MPP Monique Smith. “I am very pleased that the NOHFC could support their relocation to a larger facility and help position the company for future long-term success right here in our community.”
“We wish to thank M.P.P Monique Smith and Mayor Vic Fedeli, and the City of North Bay for their assistance in obtaining the loan from the Heritage Fund, which enabled us to obtain this new facility,” said Mark Dutrisac, Vice President of Rahn Plastics. “We are a small company that is proud to guide our relationships with our customers using the principles of integrity, performance, innovation and good will. Our company has grown over the years largely with the help of our employee’s dedication and willingness to meet our customers ever changing demands. The purchase of this new facility has become necessary to house the automated equipment necessary to stay competitive in the world market.”
“Our government is committed to supporting private sector expansion and job creation across Northern Ontario,” said Bartolucci, who chairs the NOHFC. “That’s why the McGuinty government is investing in the development of northern industrial parks to attract new industries, in skills training to develop skilled workers, as well as directly in the North’s manufacturers to grow their business.”
Other McGuinty government initiatives for northern prosperity include:
Providing up to $1 million under the NOHFC’s Emerging Technology Program to private sector companies to develop exciting and viable new technologies in the North.
Providing up to $25,000 through the Northern Ontario Young Entrepreneur Program to support business start-ups by young northerners.
Introducing Ontario’s $500 million Manufacturing Investment Strategy to help industry develop leading technologies and innovations to remain globally competitive.
These initiatives are part of the government’s Northern Prosperity Plan for building stronger northern communities. The Northern Prosperity Plan has four pillars: Strengthening the North and its Communities; Listening to and Serving Northerners Better; Competing Globally; and Providing Opportunities for All.