Abbotsford – Two businesses in the Fraser Valley will be able to produce and sell more B.C.-made goods and hire more people with new funding through the Look West strategy.
“We know B.C. can create incredible products, and by supporting manufacturing we can get more local products, made with local materials, in national and international markets,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “Through our Look West strategy, we are investing in companies to accelerate their growth, which means more well-paying jobs in our communities and more dollars in the pockets of British Columbians.”
Through the B.C. Manufacturing Jobs Fund, the Province is investing a total of nearly $600,000 to support Binquip MFG Solutions Ltd. in Abbotsford and Restwell Mattress Company Ltd. in Surrey as they grow their operations and create more than 35 new jobs.
This funding will help the companies diversify their products, operate more efficiently and remain competitive locally, while reaching new customers in growing markets. These investments are supporting local businesses to grow, reach new markets and customers, and hire more people in the Fraser Valley, foras much as $4.7 million in total capital investment.
Binquip MFG Solutions produces solid steel containers and bins for the waste and recycling industry. It will be receiving almost $200,000 to buy equipment that will help it diversify its product lines and create an additional 27 full-time jobs in its community.
Binquip was established by the owners of Daequip Premium Attachments Ltd. to bring solid steel container and bin manufacturing under a new, integrated operation.
“Thank you to the manufacturing jobs fund for providing some necessary funding that has helped us with the purchase of several new pieces of equipment,” said Ed Lingel, CEO, Daequip Premium Attachments. “The added equipment has helped our company grow and create 27 new jobs locally here in Abbotsford, directly supporting the B.C. manufacturing industry. We look forward to future growth and sustainable business opportunities.”
Manufacturing jobs fund drives major investment, economic growth
The B.C. Manufacturing Jobs Fund supports high-value industrial projects in all regions of the province, helping companies modernize, grow and create stable, family-supporting jobs.
More than $1.2 billion is being invested in more than 150 capital projects funded through the fund, with as much as $154 million in provincial funding committed so far, creating more than 2,100 jobs and protecting more than 2,700 jobs.
