Guelph's Hammond Power Solutions received almost $1.5 million in stimulus funding last week according the
Guelph Mercury. The company, which manufactures dry-type transformers and magnetic products, will use the funds to substantially increase their workforce with the goal of stimulating Guelph's struggling manufacturing economy.
"In Guelph Tuesday, the minister of state for the Federal Economic Development Agency for Southern Ontario announced almost $1.5 million in funding for the maker of dry-type transformers and magnetic products. The day before, Goodyear gave more than $825,000 to CRS Electronics Inc. of Welland, Ont. The two projects are among scores benefiting from $62,7 million in federal funding this fiscal year in southern Ontario. The stated intention of the fund is to create jobs and support business through a difficult recession."
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Guelph Mercury