Government of Canada invests in Cytec Canada’s Niagara Expansion
Niagara Falls, Ontario — With a $10 million investment from the Government of Canada, Cytec Canada will expand its Niagara plant to introduce new innovative products, help to grow the regional chemical sector, create jobs, and increase productivity. The Honourable Rob Nicholson, P.C., Q.C., Member of Parliament for Niagara Falls, Minister of Justice and Attorney General of Canada, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), made the announcement today alongside representatives of the Government of Ontario and the company.
“Our Government's top priority remains creating high-value jobs, growth and long-term prosperity for Canadians,” said Minister Nicholson. “Our investment is supporting the expansion of Cytec Canada to meet growing global demand for its innovative made-in-Niagara products.
FedDev Ontario’s $10 million contribution, in addition to Cytec’s own investment of more than $100 million, will be used to build a new chemical plant beside its existing plant in Niagara. This expansion will create 30 new jobs and help maintain 105 existing positions. Cytec is currently operating at capacity and, through support from the federal government, the company will be able to introduce new products and double its production of phosphine and phosphine derivatives. These products are used in a wide range of materials, including electronics for LEDs, mineral processing, solvent extraction and fumigation.
“This significant expansion will allow us to meet the growing needs of the global markets we service and we are very thankful to have the strong support from the Government of Canada,” said Rene Lemay, Site Manager, Cytec Canada.
The investment announced today supports the Government of Canada’s science, technology, and innovation agenda, which is focused on increasing the country’s productivity, creating jobs, and growing the economy.
Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region’s strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region’s businesses and communities become more competitive, innovative, and diversified. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.