As reported by Governement of Ontario
Ontario is supporting the next phase of the transformation of the Ford Essex engine plant , which is expected to create and retain up to 757 new jobs over five years.
The initiative, called Project Renaissance, combines industry-leading flexible manufacturing with the establishment of a North American Centre for Diesel and Advanced Powertrain Technology, Research and Innovation. The province is contributing up to $81.2 million towards the project, building on a $17 million provincial investment announced in March 2008 that helped re-open the shuttered plant.
The terms of the provincial support agreement provides Ford with an opportunity to increase its investment in the project, up to $736.4 million.
The province's strategic investments with the auto sector, dating back to 2004, have helped sustain Ontario's industry footprint through recent restructuring. A combination of modern, flexible manufacturing facilities and strong R&D capabilities will help secure the sector's long-term future in the province.
Ontario is supporting the next phase of the transformation of the Ford Essex engine plant , which is expected to create and retain up to 757 new jobs over five years.
The initiative, called Project Renaissance, combines industry-leading flexible manufacturing with the establishment of a North American Centre for Diesel and Advanced Powertrain Technology, Research and Innovation. The province is contributing up to $81.2 million towards the project, building on a $17 million provincial investment announced in March 2008 that helped re-open the shuttered plant.
The terms of the provincial support agreement provides Ford with an opportunity to increase its investment in the project, up to $736.4 million.
The province's strategic investments with the auto sector, dating back to 2004, have helped sustain Ontario's industry footprint through recent restructuring. A combination of modern, flexible manufacturing facilities and strong R&D capabilities will help secure the sector's long-term future in the province.