The Ontario Government has created 365 new jobs in Woodstock with a grant to Toyota Boshoku

Woodstock's Mayor Michael harding and the Provincial government released this announcement today regarding funding to Toyota Boshoku. Toyota's new approach to technology, the environment and business is always interesting to follow.

ONTARIO GOVERNMENT ANNOUNCES $8.7 MILLION INVESTMENT TO TOYOTA BOSHOKU CANADA CREATING 365 JOBS IN WOODSTOCK

Advanced Manufacturing Investment Strategy Creates More Opportunities

The Ontario Government is investing $8.7 million in new jobs and leading-edge ideas at Toyota Boshoku Canada's auto parts plant, announced Minister of Economic Development and Trade Sandra Pupatello.

"We're working hard with Ontario manufacturers to create more jobs and greater opportunities for all Ontarians," said Pupatello. "Today we're celebrating 365 new jobs in Woodstock. That's something the Ontario government is very proud of. And we're repeating success like this over and over again across the province."

Toyota Boshoku's $87.3 million investment includes building a 25,000 square metre plant that will manufacture front and rear seats, interior door trim and other interior products for the RAV4 vehicle model produced at Toyota Motor Manufacturing Canada's Woodstock plant.

"This is a great day for Woodstock," said Mayor Michael Harding. "The Ontario government and Toyota Boshoku Canada have put Woodstock at the front of the line for more leading-edge investments that create new opportunities for our community."

The Toyota Boshoku Canada investment is provided under the Ontario government's Advanced Manufacturing Investment Strategy (AMIS). The $500-million strategy provides repayable loans, interest free for up to five years, to support investments in technology and innovation. The innovative projects supported by this strategy will generate more than $600 million in new investment and support the creation or retention of about 4,000 jobs.

"We are proud to call Woodstock home to Toyota Boshoku Canada's first Canadian facility," said Haruo Murase, President of Toyota Boshoku Canada. "The skilled workers of Woodstock and the surrounding region will help us reach the next level of competitiveness and success. We couldn't have found a better place to do business."

"Since the original announcement the number of jobs has grown from 330 to 365 and the investment from $65 million to $87.3 million" said Mayor Harding. "We are pleased that Toyota Boshoku's confidence in the opportunities here in Woodstock has increased even before the plant is opened."

The government is now accepting proposals for AMIS round four, with a submission deadline of August 30, 2007. For eligibility requirements and an application package visit http://www.ontariocanada.com/ (click on the "Programs and Services" link). In this year's budget the Ontario government lowered the project threshold for loan applications under the program to either 100 jobs created or kept or $25 million invested, to allow more small- and medium-sized companies to participate.

AMIS is part of the government's overall strategy for jobs and prosperity that includes investments in infrastructure, postsecondary education, stable energy supply, research and innovation and key economic sectors.

Contacts:

Valérie Poulin

Minister Pupatello's Office
416-325-6907

Dave Bauer

Communications Branch