Provincial funding to create jobs and boost profits for local company

A local business is getting a cash infusion from the provincial government to expand its operations.

Element5 is getting $3.46-million investment to help more than triple the company’s production.

“The ongoing support from the province is a cornerstone of Element5’s strategic planning. More importantly, it reflects our shared vision to position Ontario as a leader in advanced wood construction and manufacturing, not only in Ontario, but across Canada and North America. This vision aligns seamlessly with our collective goals around intelligent natural resource use, affordable housing, and responsible environmental impact,” said President and CEO Patrick Poulin.

The funding is expected to help create 32 new jobs and increase revenue by 300 per cent, by boosting export sales by nearly 600 per cent.

Element5 specializes in the design, fabrication and assembly of modern timber buildings.