Speech Article from  Federal Economic Development Agency for Southern Ontario

Archived - Investing in Business Growth and Productivity Initiative Funding Announcement for Wolf Steel Ltd.

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Speaking Points Bruce Stanton, Member of Parliament for North Simcoe

Barrie, Ontario

January 13, 2015

Check against delivery

Good morning ladies and gentlemen, friends and guests.

I would like to thank Minister Goodyear for joining us today and for the excellent work our Government is doing to promote economic growth in Barrie.

Thank you to the representatives from Wolf Steel for opening your doors to us and for hosting today's announcement. It is a pleasure to be here.

C'est un grand plaisir d'être ici avec vous aujourd'hui.

It is great to be in Barrie to see the ways in which our Government is helping our local companies reach their full potential. This is a proud moment for our community.

Job creation, economic growth and long-term prosperity remain top priorities for our Government and we are committed to providing the necessary targeted investments to retain, attract and grow Canadian businesses.  We have set the right macro-economic conditions to ensure our businesses succeed.

Wolf Steel is a long-established manufacturer and a notable producer in this region. This family business, founded in 1976, by owners Wolfgang and Ingrid Schroeter operates under the Napoleon Group of Companies. 

What started as a small, steel fabrication business has grown into an expansive supplier of heating and cooling; gas and fireplace; barbeque and outdoor living products to customers in over 27 countries around the world.  

Today, Wolf Steel Ltd has four facilities in operation in Barrie. It directly employs over 1,200 associates with 737 in the Barrie region.  These associates work in the company's production facilities; in customer service, sales, marketing and administration areas, as well as extensive research and development departments.

Our Government recognizes the need to support companies like Wolf Steel so that they can find the right tools, and implement the right changes, to make their business grow and prosper in a competitive, global market.

With this in mind, I'm pleased to be here to deliver some great news on behalf of our Government.

Today, the Government of Canada, through FedDev Ontario, is providing Wolf Steel Ltd. with up to $4.2 million to support innovation and the expansion of its manufacturing business.

This repayable contribution is through FedDev Ontario's Investing in Business Growth and Productivity initiative, which is aimed at helping our businesses compete globally.

With this funding, Wolf Steel Ltd. will begin to manufacture air conditioning products. This is great news for Canada as there is presently no other company in Canada that is manufacturing these products. This will mean more revenue and a larger customer base for Wolf Steel and it will mean Canadians have access to some great, Canadian-made products.

Funding will also be used for upgrading the Barrie manufacturing facilities and implementing technology upgrades.

These changes will make Wolf Steel more cost- and energy-efficient and will enhance their overall productivity and market appeal.

The results of this project will also be very beneficial to the suppliers in our region, who will benefit from the production increase at the Wolf Steel facilities.

Finally, I know our community will be pleased that this project is expected to create up to 176 jobs for this region.

Our Government believes that it is support like this that can help our businesses grow and remain sustainable over the long-term.

Again, I extend my sincerest thanks and congratulations to Wolf Steel. I'm looking forward to seeing how this project will generate positive results for your business and your community. I wish all of those involved the best of luck and success.

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