GREATER NAPANEE – The “Goodyear Tire & Rubber Company”, one of the largest tire manufacturing companies in the world, announced today, in the presence of Prime Minister Justin Trudeau and the Premier of Ontario, Doug Ford, a project worth over 575 million of dollars to modernize and expand its plant in Greater Napanee, Ontario.
The company’s goal is to create an energy-efficient end-to-end manufacturing process and increase its production capacity, particularly for tires for electric vehicles and off-road vehicles.
The project, according to the company, will create 200 new highly skilled jobs in the manufacturing sector by 2027 and will guarantee more than 1,000 jobs in Napanee where the “Goodyear” plant will achieve net zero emissions by 2040, responding to the attempt of Canada to achieve a net-zero emissions economy by 2050.
As a result, Goodyear will receive up to $44.3 million in federal funding from the Strategic Innovation Fund for this expansion project, while the Ontario government, through Invest Ontario, will contribute $20 million for support key components of the project, including the implementation of innovative technologies and professional training programs.
“Companies from across the world are choosing Canada. Today’s announcement that Goodyear is modernizing its Napanee plant will create manufacturing jobs, grow our EV industry, and use modern technology to keep our air clean. It’s another vote of confidence in Canada’s auto sector workers”, said Trudeau, while Ford emphasized that “Goodyear’s investment is another significant boost to Ontario’s growing electric vehicle sector, building on the billions of dollars that have been invested in the sector over the past four years. Across Ontario, we’re seeing major investments and new jobs created as we build out our end-to-end EV supply chain, connecting critical minerals in Northern Ontario to world-class manufacturing across the province. Companies are choosing Ontario because of our transportation infrastructure, our competitive business environment, and our skilled workforce”.
Among those present at today’s conference, there were also the federal ministers François-Philippe Champagne (Industry), Mary Ng (Economic Development) and the provincial minister Vic Fedeli (Economic Development), as well as the Mayor of Greater Napanee, Terry Richardson, and the President of “Goodyear”, Mark Stewart, who stated that “Today’s announcement reinforces our long-term commitment to Canada and enhances our agility and flexibility, positioning Goodyear to meet the evolving needs of our customers now and in the future. We are appreciative to the federal, provincial, and local governments for their support and to our Napanee associates for their dedication to building the next generation of tires”.
From mining critical minerals to building cars and batteries, Canada is attracting big investments: in the last four years, various companies announced more than $46 billion in electric vehicle (EV) manufacturing investments across Canada, finding the support, including financial, of the federal and provincial governments.
In the pic above: Trudeau, Ford and Ng (from the video on the “Premier of Ontario” YouTube channel, here below)
