Two Alexandria companies receive Federal funding to grow their businesses

Posted on Monday March 09, 2020
2020 Rural Innovation Initiative Funding Announcement
2020 Rural Innovation Initiative Funding Announcement

March 6th, 2020 Alexandria, ON
Formax Plastics Inc. and Papeterie Alexandria Stationery / Glengarry Printing will benefit from an investment announced today by Cornwall & the Counties Community Futures Development Corporation (Cornwall & the Counties CFDC) and Francis Drouin Member of Parliament for Glengarry, Prescott, and Russell.
Formax Plastics Inc. will receive $25,000 under the Rural Innovation Initiative Eastern Ontario (RIIEO). This funding will support the purchase of injection-molding equipment that will enable them to be more efficient in terms of energy use, production costs and competitive advantage. This equipment will help to maintain their current clients and acquire significantly more. This new focus will assist the organization in moving away from single-use plastic products that had been a past revenue stream, which will benefit the environment, the community of Alexandria, and Eastern Ontario.
Papeterie Alexandria Stationery / Glengarry Printing will also receive $25,000 under the RIIEO. The funding will support the purchase of new equipment, which will allow the organization to do more jobs in-house, and provide more consistent print quality to clients. This maximizes productivity, resulting in shorter wait times, and with shorter more manageable turnaround times they can focus on improving quality, cutting back on waste and saving energy.
Recognizing the vital role rural communities play in the region’s economy, the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is providing a total of $15 million over two years for the CFDCs in Eastern Ontario to deliver the RIIEO.
Quotes
“These projects will position these two Alexandria companies to increase productivity and serve their clients better, all while finding environmental benefits. Through investments like this, we are proud to support our local communities and boost rural businesses. We’ve got your back.” The Honourable Mélanie Joly, Minister of Economic Development and Official Languages “On behalf of the CFDC staff and the Board of Directors, I would like to commend Formax Plastics Inc. and Papeterie Alexandria Stationery/Glengarry Printing on the addition of this equipment and the expansions of their businesses. Supporting the transition of traditionally ran business into industry 4.0 was one of the overarching goals of this program. We recognize that this type of innovation is critical to increasing the economic growth of the region. Their continued investment in their business benefits the community greatly and we are proud to have the opportunity to support their growth.” Lesley Thompson, Executive Director Cornwall & The Counties Community Futures Development Corporation

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