Wayne Easter, MP for Malpeque, on behalf of the Honourable Pierre S. Pettigrew, Minister of Human Resources Development Canada, along with the Honourable Wes MacAleer, Provincial Minister of Economic Development and Tourism, today announced funding of $200,000 for Thermotech Industries Incorporated in Prince Edward Island.
The Government of Canada, through its Transitional Jobs Fund, and the Government of Prince Edward Island are participating in this partnership with the private sector. This project has been identified as a priority for economic development and will help create five full-time jobs and two seasonal jobs. The Thermotech project will help Prince Edward Island residents find sustainable employment in the manufacturing sector.
In addition to the Government of Canada's contribution of $75,000, the company will receive a repayable investment of $125,000 from the Government of Prince Edward Island. Thermotech Industries will invest the necessary amount to complete this project.
"This will be the first company to move into the new Cornwall Industrial Park, which will help create new opportunities for business, industry and employment in the area," said Mr. Easter. "We are devoting resources to further this initiative and create opportunities."
Under the project, Thermotech – which manufactures, repairs and sells window and glass products – will move to a new plant, hire new staff and make a new line of vinyl windows. The initiative will permit the company to expand into the North American market. "The manufacturing industry in PEI is becoming a significant component of our overall economy," said Minister MacAleer. "Thermotech is just another example of PEI's ability to diversify from the traditional resource-based sectors of agriculture, fisheries and tourism."
The Government of Canada's Transitional Jobs Fund promotes economic growth and employment in areas of high unemployment. The TJF assists regions throughout Canada to develop long-term sustainable employment in areas that have good prospects for future growth. Projects should also be consistent with regional economic development strategies.
This project supports the Government of Canada's Jobs Strategy. The Jobs Strategy is based on strengthening the economic fundamentals and establishing a favourable climate for job creation by making strategic investments in priority areas where the government can make a difference — areas such as youth, trade, technology and infrastructure.
This announcement is an example of how the Government of Canada is prioritizing its spending so that it can better serve Canadians by making efficient use of their tax dollars.