The Ontario government is supporting a $200 million investment by Jungbunzlauer in Port Colborne, which will create 50 new jobs and strengthen the region's supply chains. The company will expand production of xanthan gum to meet rising demand.
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| Ontario celebrates a major economic boost as Jungbunzlauer announces a $200 million expansion of its Port Colborne facility. The project will create 50 new jobs and increase production of xanthan gum. Symbolic image |
Port Colborne, Ontario, Canada - September 25, 2024:
In a significant boost to the local economy, the Ontario government has announced a $200 million investment by Jungbunzlauer, a global leader in the production of specialty ingredients. The expansion of the company's existing facility in Port Colborne will not only create 50 new jobs but also strengthen regional supply chains and position Ontario as a key player in the North American manufacturing sector.
Premier Doug Ford expressed his gratitude to Jungbunzlauer for their continued confidence in Port Colborne and Ontario's workforce. He emphasized the government's commitment to supporting economic growth and job creation through initiatives like this investment.
The expansion project will focus on increasing the production of xanthan gum, a versatile ingredient used in a wide range of industries, including food and beverages, healthcare, and personal care. As the sole producer of xanthan gum in Canada, Jungbunzlauer's investment will solidify Ontario's position as a strategic location for the production of this essential ingredient.
Beyond job creation, the project is expected to have a positive ripple effect on the local agricultural sector. Increased demand for corn, a key ingredient in xanthan gum production, will benefit Ontario's farmers and support the province's agricultural industry.
The Ontario government has demonstrated its support for this investment by providing $4.8 million through the Invest Ontario Fund. This funding will help to offset the costs associated with the expansion project and further incentivize Jungbunzlauer's continued growth in the province.
Minister of Economic Development, Job Creation and Trade Vic Fedeli highlighted the government's efforts to create a favorable business environment for manufacturers. By reducing the cost of doing business, Ontario is attracting multinational companies to invest and expand their operations.
Jungbunzlauer's decision to invest in Port Colborne is a testament to the province's competitive advantages, including its skilled workforce, strong infrastructure, and supportive business environment. The expansion project will not only contribute to the economic vitality of the region but also solidify Ontario's reputation as a global manufacturing hub.