Grant to help create 60 jobs at Oldcastle firm

An Oldcastle automotive trim manufacturer will receive a $1 million federal grant to create 60 new jobs in the area.

Lakeside Plastics will be one of 11 companies in Ontario, Quebec and British Columbia to share $41 million to advance automotive technology, Navdeep Bains, federal minister of innovation, science and economic development is announcing Wednesday.

Bains will make the announcement at Lakeside Plastic’s North Talbot Road plant at 10 a.m. The company, which makes plastic trim components, says the investment will create 60 more skilled jobs.

The $41 million in grants comes from the $1.26 billion Strategic Innovation Fund, touted as a program to attract and support high-quality business investments across all sectors of the economy. The fund replaces other programs for the aerospace, defence, automotive and technology industries. Its goals are to encourage research and development, help Canadian companies expand, attract and retain large-scale investments to Canada and bring together academia, non-profit organizations and the private sector in projects.

In a media release about Wednesday’s announcement, the ministry said the funding will support advancements in automotive technologies to develop safer vehicles that are more fuel-efficient and environmentally friendly.

“The Government of Canada is creating well-paying, middle-class jobs and supporting long-term economic prosperity by investing in Canada’s automotive manufacturing sector,” the statement said.