Ontario is partnering with Dishon Limited to invest in new technology and almost double its workforce, creating 54 new jobs and retaining 60 positions in Vaughan.
Steven Del Duca, Minister of Economic Development and Growth, made the announcement today at the company's facility in Vaughan.
Dishon is a precision machining and manufacturing company specializing in the space and satellite, aerospace and power generation sectors. The company's technology has been used in cutting-edge projects such as the International Space Station, the Phoenix Mars Lander and the space shuttle Canadarm.
With support from Ontario's Jobs and Prosperity Fund, Dishon is investing in state-of-the-art multi-axis Computer Numerical Control (CNC) milling machines, specialized training and facility upgrades. The majority of new hires will be highly-skilled engineers, programmers and machinists. The project will enhance the company's technical capabilities, quality assurance and cost effectiveness in the complex components and advanced materials required by its aerospace customers.
Ontario's plan to support care, create opportunity and make life more affordable during this period of rapid economic change includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25, and over 65, through the biggest expansion of medicare in a generation.
- Ontario is investing up to $1.3 million through the Jobs and Prosperity Fundtowards an overall project value of $13.8 million. The project is expected to be completed in the fall of 2022.
- The aerospace industry is a major part of Ontario’s advanced manufacturing sector, accounting for over 21,000 direct jobs. Over half of the world’s top 25 aerospace companies have operations in the province and Ontario-based manufacturers are part of the supply chain for virtually every passenger aircraft in the world.
- The Jobs and Prosperity Fund helps secure private sector investment in Ontario, allowing the government to partner with businesses that are creating jobs and enhancing productivity, innovation and exports. Every dollar invested through the fund leverages an average of $10 in private sector investments. Since January 2013, Ontario has committed approximately $830 million in projects administered under JPF, leveraging over $10.9 billion in total investment. This is helping to create and retain approximately 46,000 jobs.
- As part of the Good Jobs and Growth Plan, Ontario will renew, enhance and extend the Jobs and Prosperity Fund with an increase of $900 million over the next 10 years. The fund will support investments designed to help Ontario’s businesses grow with the aim of creating and retaining over 70,000 jobs in Ontario and leveraging more than $9 billion in private-sector investments.
- Ontario plans to increase the number of post-secondary students graduating in science, technology, engineering and mathematics (STEM) disciplines by 25 per cent over the next five years, to 50,000 per year. This will give Ontario the highest number per capita of postsecondary STEM graduates in North America.