Ontario is partnering with Triangle Fluid Controls Ltd. to help invest in new technology and grow its business, creating 10 new jobs and retaining 25 positions in Belleville.
Triangle Fluid Controls manufactures high-performance sealing gaskets and is a leading Canadian distributor for control valves used in industrial equipment and piping systems that handle fluids or gases.
With support from the Eastern Ontario Development Fund, the company is adding 12,600 sq-ft to its facility and purchasing new production and laboratory testing equipment. This will enable Triangle Fluid Controls to expand its product range and increase its export business.
• Ontario is investing $186,000 from the Eastern Ontario Development Fund for this project, supporting an additional investment of $1,673,705 from Triangle Fluid Controls, for a total value of $1,859,705. The project is expected to be completed by the end of 2020.
• Since 2013, the Eastern Ontario Development Fund and the Southwestern Ontario Development Fund have helped to create and retain more than 36,500 jobs and attracted approximately $1.73 billion in investment. The funds cover up to 15% of eligible project costs, with the recipient company funding the remainder from its own resources.
• Ontario is accepting applications for the Eastern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
• Ontario’s five-year, $400-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale up and modernizing regulations for businesses.