Friday, March 18, 2016
Ontario is partnering with Baylis Medical Company to support an expansion project at the company’s Mississauga research and development (R&D) and manufacturing facilities, which will create 84 new jobs that will be added to the 194 current jobs.
Through the province’s Jobs and Prosperity Fund, specifically under the New Economy Stream, Ontario will provide a conditional grant of up to $4.22 million to support the company’s expansion into a new advanced facility, and its plan to almost double its exports over the course of this investment.
Expansion and additional manufacturing capabilities will help Baylis Medical reduce costs and bolster the company’s position to enable continued growth of its core business. Investments in talent will support the production of three new product lines and help the company reach new international markets, including Australia, Brazil, China and South Korea. The $32.5 million overall investment being made towards the new project will significantly increase the company’s cleanrooms and R&D spaces.
“The government’s number-one priority is growing the economy and creating jobs.” said Hon Brad Duguid, Ontario Minister of Economic Development, Employment and Infrastructure. “The government’s support for Baylis Medical will help them expand facilities, ramp up their important research and development work and leverage new and innovative technologies. These efforts will allow Baylis Medical to strengthen their exports and significantly increase global competitiveness.”
“Today’s announcement is great news for Mississauga. I’m delighted that our government continues to invest in our life sciences sector by supporting innovative companies like Baylis Medical that generate significant economic activity, both at home and abroad.” — Amrit Mangat, MPP for Mississauga—Brampton South
“We are pleased to be partnering with Ontario on this expansion project. Our company has a track record for developing and commercializing advanced medical devices.” said Kris Shah, President, Baylis Medical Company. “This new facility will give us the space to increase production and hire additional resources to expand our portfolio of innovative products. This strategic partnership will help us compete and succeed globally.”
Source : baylismedical.com
