Today’s announcement by the Provincial and Federal government has that new tire smell.
Ontario Premier Doug Ford and Prime Minister Justin Trudeau joined representatives from The Goodyear Tire & Rubber Company to announce the company’s project to modernize and expand its plant in Napanee.
Goodyear CEO and president Mark Stewart went on to highlight the project will create 200 new, highly skilled manufacturing jobs by 2027 and secure more than 1,000 jobs in Napanee.
Goodyear Canada Inc. will get up to $44.3 million from the federal Strategic Innovation Fund for its expansion project. Ontario’s government will also provide $20 million through Invest Ontario to support key parts of the project, including new technologies and skills training.
This investment will help Goodyear set up an energy-efficient manufacturing process and boost production, including making more EV and all-terrain tires. The company will use current partnership programs to help keep Canada a world leader in the electric vehicle industry.
Prime Minister Trudeau says the reason Goodyear has chosen to invest here even more, is because of the tradition of excellence that has been showcased here in Napanee for over 30 years.
Premier Ford commented this announcement marks another big milestone in Goodyears ongoing success in Ontario.
Napanee Mayor Terry Richardson noted this is a very important announcement today, thanking everyone for their financial support and commitment, which will enable the future growth and success of our community for many years to come.
This announcement is beneficial to the province and countries growing EV industry. But with Umicore’s recent pause on construction of their EV Battery Material Plant in Loyalist Township due to the “steep decline in customer demand,” concerns were raised about the federal funds set aside for the project.
Trudeau says both the federal and provincial governments have made a bet on and have made investments in the EV industry. They know it’s a new area of technology and noted there will always be certain challenges. “But we know investing in Ontarians and Canadians and in the future, is the right thing to do.”
Written by Emily Chatwood
