Cynergy Composites Inc. will create 10 new, good-paying jobs and protect 10 existing positions in Strathroy
NEWS
STRATHROY — The Ontario government is welcoming an investment of $2,786,000 by Cynergy Composites Inc., a supplier of innovative composite products and tooling for various sectors, to build a new facility, expand production, and create 10 new, good-paying jobs in Lambton-Kent-Middlesex.
The investment was announced today by Steve Pinsonneault, Member of Provincial Parliament for Lambton-Kent-Middlesex.
“By supporting strategic investments from local businesses, our government is protecting Ontario’s workers and creating the conditions for a strong, stable, and resilient economy that can weather any storm,” said MPP Pinsonneault. “This investment from Cynergy Composites Inc., supported through our government’s Southwestern Ontario Development Fund, will help create more good-paying jobs for workers and families in Strathroy and strengthen the local community.”
With this investment, Cynergy Composites will equip and relocate to a new 15,500 sq. ft. facility in Strathroy, where they will manufacture and install new tooling and equipment to support growth across the military, marine, industrial, robotics, automotive, and motorsports sectors. The expansion responds to rising fuel costs and tariff pressures, with lightweight composite solutions enabling the company to diversify into new markets.
“Owning small to medium sized manufacturing businesses today has its own challenges, but we at Cynergy Composites are grateful to be part of the Ontario Government’s incredible program that assists manufacturer investment to promote growth within our industry,” said Tim Hodgins, President of Cynergy Composites Inc. “The SWODF program as a whole allows us to make the investments needed to keep Cynergy strong and positioned to continue to compete on the world stage.”
In support of this investment, the government is providing Cynergy Composites with $293,445 in funding through the Regional Development Program’s Southwestern Ontario Development Fund (SWODF).
“Employing more than 800,000 workers across the province, Ontario’s manufacturing sector is the economic engine of our nation,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support local companies like Cynergy Composites as they expand their operations, and we thank them for their contributions to Ontario’s dynamic and growing manufacturing ecosystem.”
Ontario is investing over $250 million through its Regional Development Program to help manufacturers across the province grow while supporting distinct regional priorities. To date, Ontario has supported more than 215 projects through the program, leveraging more than $2.8 billion in new investments and helping to create over 5,900 jobs.
QUICK FACTS
- The government launched the Regional Development Program (RDP) for eastern and southwestern regions of 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 Advanced Manufacturing and Innovation Competitiveness (AMIC) stream of the RDP was launched to support advanced manufacturers across the province. Ontario is now providing additional funds to enhance the AMIC stream that will help more firms with the financial support and tools needed to improve competitiveness, while strengthening essential supply chains.
- The government continues to provide tax support to Ontario manufacturers by continuing to offer the Ontario Made Manufacturing Investment Tax Credit to eligible businesses.
- Additionally, Ontario has launched a new $150 million Ontario Together Trade Fund to assist local businesses in taking advantage of new interprovincial trade opportunities.
ADDITIONAL RESOURCES
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