Two local manufacturing companies are investing a combined $8.4 million dollars in Cobourg. Provincial government officials announced this morning at Beneco Custom Print Packaging on William Street.
Beneco is investing $7 million dollars to purchase new automated equipment to speed up production, while Custom Plastics International is investing $1.4 million dollars to add new production lines and automation to increase the production of made in Ontario products and create 30 new good paying jobs in Cobourg.
With the investments, both companies will receive grants from the Eastern Ontario Development Fund. Beneco will receive $500,000 in funding while Custom Plastics is getting just over $217,000.
Ontario Minister of Economic Development Job Creation and Trade Vic Fedeli joined local MPP David Piccini for the announcement and said it’s great to see growth in Cobourg and the surrounding region.
An example of what’s been produced at Beneco Custom Print Packaging in Cobourg. Photo by Jeff Gard
“Ontario led the way again last month in job creation right across Canada and especially in manufacturing and when you see family-owned businesses – one who’s been here almost 60 years – continuing to grow and invest, you know they have confidence not only in Ontario, but right here in Northumberland region.”
Applications for the latest round of the Eastern Ontario Development Fund are open until Oct. 5.
