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 Center 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 provinces strategic investments with the auto sector, dating back to 2004, have helped sustain Ontarios industry footprint through recent restructuring. A combination of modern, flexible manufacturing facilities and strong R&D capabilities will help secure the sectors long-term future in the province.
Access this 2-minute, 5-second video by clicking on the link below.