VIDEO: Gum Products gets up to $995,000 for new equipment, expanded product lines
By Alyssa Dalton
Feb. 9, 2015 – Manufacturing AUTOMATION was there today as Gum Products International, a manufacturer of food additives, received up to $995,000 from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to purchase new processing equipment, create new lines and expand existing food safety product lines, and extend its global market reach.
The Newmarket, Ont., company said the funding will help achieve its goal of transitioning from a food additive manufacturer to a biotechnology company, as well as diversify the biotechnology sector for the region.
Up to four full-time jobs are expected to be created by 2017, and three additional jobs in the two years following the project’s completion, said Kenneth Tan, managing director of Gum Products.
“Today’s announcement speaks to our Government’s ongoing commitment to building a strong and competitive manufacturing sector in Ontario, which is vital to our economy,” said Gary Goodyear, minister of state for FedDev Ontario. “Smart investments, such as this, lead to the development of groundbreaking products and services, and pave the way to economic growth.”
FedDev Ontario’s repayable contribution, through the Investing in Business Growth and Productivity initiative, is aimed at helping established businesses to expand their operations, invest in productivity improvements and compete globally.
Photo 1: Kenneth Tan, managing director of Gum Products
Photo 2: Lois Brown, MP Newmarket-Aurora
Photo 3: Gary Goodyear, minister of state FedDev Ontario
Photos A. Dalton