A large automotive supplier is making a big investment in Guelph.
Magna International announced on Wednesday it will be investing $140 million to install an electrical coating and painting operation in the Guelph facility.
“This game-changing investment by Magna will create hundreds of new jobs across the province, while further strengthening Ontario’s end-to-end automotive supply chain,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade in a news release. “We’re creating the right conditions for businesses to succeed and continue to work around the clock to attract new investments that build a stronger economy.”
Magna International said the investment in Guelph is expected to help create around 175 new jobs and include a 120,000 square foot expansion.
Production is expected to being in the second quarter of 2023.
Magna announced it is investing more than $470 million to expand its operations across Ontario, Canada. The growth includes a new battery enclosures facility in Brampton to support the Ford F-150 Lightning and future OEM programs.
In addition to the Guelph facility, Magna is growing in its locations in Brampton, Belleville, Newmarket, Windsor, and Penetanguishene.
They are also supported by $23.6 million in grants from the Ontario government to bring additional high-quality jobs to the region with ongoing training and development programs for employees.
The new and expanded operations are expected to bring more than 1,000 new jobs to Ontario over the next few years.
