CES Transformers expansion will create 80 good-paying jobs in Markham
August 21, 2023
The Ontario government is welcoming a $4 million investment by CES Transformers, a leading manufacturer of power transformers, the devices used to transmit electrical power from one circuit to another. This investment, to expand the company’s existing facility and increase production, will create 80 new, good-paying jobs in Markham.
“By cutting red tape and lowering the cost of doing business, our government continues to create the right conditions for local manufacturers to expand and create more good-paying jobs,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “With over 820,000 workers in the manufacturing sector, manufacturing employment in Ontario is now the highest it has been since December 2008. Thank you, CES Transformers, for choosing Ontario.”Vic Fedeli, Minister of Economic Development, Job Creation and Trade
With their $4 million investment, CES Transformers will expand their existing facility in Markham, upgrade their equipment and train additional staff. The expanded facility will help them scale production to meet growing demand, so that other Ontario companies are able to source their products locally, instead of needing to purchase products from outside the country. As part of this investment, the government is providing CES Transformers with nearly $610,000 in funding through the Advanced Manufacturing Innovation and Competitiveness (AMIC) stream of its Regional Development Program.
“Choosing to invest back into Ontario was important to CES Transformers. The AMIC grant from the Government of Ontario has allowed us to focus on taking on a larger role in supporting the demand of the electrical grid,” said Chris Espielithies, President of CES Transformers. “We are proud of our role in supporting infrastructure growth throughout our communities and cities.”
Ontario is investing $140 million through its Regional Development Program to help companies across the province grow and expand. To date, Ontario has provided more than $100 million to support more than 90 projects through the program, leveraging more than $1 billion in new investments and helping to create more than 2,100 jobs in the province. Applications for the latest round of the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program are open until September 14, 2023.
- The government launched the Regional Development Program for Eastern and Southwestern Ontario in November 2019. Through this program, businesses and municipalities can get financial support and guided access to a range of complementary services and supports.
- In 2022, the government launched the Advanced Manufacturing and Innovation Competitiveness stream of the Regional Development Program. This stream supports Ontario advanced manufacturers across the province, including those in the automotive, aerospace, chemical, life sciences and steel sectors, to invest in the equipment, technologies and skilled workers they need to grow, improve competitiveness and create jobs.
- As part of the 2023 Ontario Budget, the government introduced the Ontario Made Manufacturing Investment Tax Credit, which provides a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.
“Our government is working diligently to create a more competitive business landscape in Ontario, and I’m pleased to see companies like CES Transformers are taking note. This $4 million investment and resulting 80 new jobs will continue to strengthen the local economy in Markham.”
– Paul Calandra
Member of Provincial Parliament for Markham—Stouffville
“I am excited to welcome CES Transformers’ $4 million investment, creating 80 new, good-paying jobs in Markham. This expansion enhances local production capacity, reinforces our economy and underlines our government’s commitment to homegrown manufacturing excellence. We are proud to support initiatives like CES Transformers, boosting innovation and fostering economic growth for a brighter future.”
– Logan Kanapathi
Member of Provincial Parliament for Markham—Thornhill
“I’m thrilled that this project will not only foster local manufacturing, but also generate 80 high-quality jobs for our community. This expansion perfectly aligns with our government’s commitment to building a resilient economy and a stronger Ontario.”
– Billy Pang
Member of Provincial Parliament for Markham—Unionville
The governments of Ontario and Canada are welcoming a $40 million investment by VueReal Inc., a made-in-Ontario start-up located in Waterloo. This investment, supported by $10.5 million in joint funding, will boost local manufacturing, strengthen cleantech innovation and create 75 new, good-paying jobs.