With skilled talent, proximity to critical economic hubs and established industry and academic leaders, Burlington has emerged as a prominent hub for advanced manufacturing, specifically in the aerospace industry.
The Government of Canada is committed to supporting our local manufacturing industries as they adopt new processes and develop made-in-Canada products to strengthen their position in global supply chains and create good jobs for Canadians.
Today, on behalf of Filomena Tassi, minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Pam Damoff, Parliamentary secretary to the minister of foreign affairs (consular affairs) and member of parliament for Oakville North–Burlington, visited Formula Solutions Inc. (FSI), a globally recognized aerospace composite material manufacturer that is developing and building technologies for the aerospace sector.
While there, Damoff met with employees and celebrated how FedDev Ontario’s $1.7-million investment helped the company accelerate the commercialization of its innovative jet engine component manufacturing process.
As a result, FSI has been able to increase the production of quality, cost-effective, and environmentally friendly jet engine parts for high-volume commercial aircraft and continues to be an important global player in the aerospace industry supply chain.
The Government of Canada is committed to supporting opportunities for all Canadians by providing the tools they need to scale up and seize new opportunities, contribute to opportunities in our most critical sectors, and grow our economy.
“Manufacturing plays a critical role in southern Ontario’s economic growth. When we invest in a business’ potential, we invest in a strong future for our province and our country. Formula Solutions Inc. is producing cutting-edge, Canadian-made parts and products and is embracing next-generation innovations to meet the evolving needs of the aerospace industry. Our government’s investments prioritize people and pave the way for our businesses to thrive,” said Tassi.
“Formula Solutions is an excellent example of the innovation that takes place here in the region. Through strategic investments, we are supporting businesses like Formula Solutions, growing and strengthening our aerospace industry, while also contributing to a more resilient future for our manufacturing sector,” said Damoff.
“We appreciate the exceptional support provided by FedDev Ontario to Formula Solutions Inc (FSI) to further advance our innovative aerospace manufacturing technology. The funding received through this program has helped to establish FSI as a world-class advanced composites supplier in the commercial aerospace sector and provide a platform for future growth and technological advancement. This will create additional direct and indirect STEM employment opportunities and help to strengthen Ontario’s status as a global aerospace manufacturing hub,” said James Peters, chief executive officer and chaiman, Formula Solutions Inc.
Quick Facts:
- Ontario’s aerospace manufacturers are well-regarded for their talent and play a key role in the global supply chain for many passenger aircraft.
- Ontario’s aerospace industry contains over 200 firms, employing more than 45,000 workers and is responsible for more than $6 billion in revenue.
- Founded in 2018, Burlington-based Formula Solutions Inc. is a composite material manufacturer specializing in Carbon Fibre Reinforced Plastic aerospace components.
- Since 2015, the Government of Canada, through FedDev Ontario, has invested over $885 million in 415 manufacturing projects, supporting over 26,000 jobs.
This press release was prepared and distributed by FedDev Ontario.
