Source: Government of New Brunswick
MONCTON (GNB) – Apex Industries will create up to 80 full-time jobs in Moncton over the next two years with support from the provincial and federal governments.
“Creating jobs is at the heart of your government’s multi-year economic growth plan,” said Premier Brian Gallant. “Having a homegrown success story like Apex choose to reinvest in our province demonstrates New Brunswickers offer a strong workforce that allows businesses to compete from right here in New Brunswick.”
The Moncton-based manufacturing company is investing in increased machining capacity to serve aerospace and defence markets, as well as oil and gas markets. It is also developing additional optical coating machines, and expanding its steel door manufacturing business, which ships products to more than 110 countries.
This project aims to improve productivity, competitiveness and export sales. The new positions are to be filled by skilled tradespeople, project managers, planners and people with engineering and product quality backgrounds.
“Today’s announcement supports the Government of Canada’s commitment to invest in projects that drive innovation and create jobs for the region while supporting growth for the manufacturing sector,” said federal Health Minister Ginette Petitpas Taylor.
Petitpas Taylor spoke on behalf of federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
The provincial and federal governments are investing a total of $2.6 million in the first phase of this multi-year project. The creation of up to 80 new jobs would increase the provincial GDP by an estimated $16.2 million over four years.
To support the project and the creation of the new jobs, Apex is eligible for an investment of up to $1.1 million from Opportunities NB, which is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.
This includes a non-repayable contribution of $500,000 or up to 10 per cent of the total capital expenditures, as well as up to $600,000 in the form of payroll rebates. Payroll rebates are performance-based and disbursed annually to a company only when it has created and maintained the jobs during the year of the claim and provided proof of salary levels and employment.
The federal government is providing a $1.5-million repayable contribution through ACOA’s Business Development Program.
“We are pleased to be expanding our business via a three-phase growth and investment plan – APEX2020 — that will impact all five of our business units,” said Apex CEO Keith Parlee. “This first phase is very exciting, adding state-of-the-art equipment that will triple our steel door manufacturing capacity and increase our competitiveness exporting to markets across North America. This means bringing many new people into our company. Employing Atlantic Canadians and giving them the opportunity to do innovative value-added work is fundamental to our mission at Apex. We appreciate the support and partnership of the federal and provincial governments as we continue to reinvest in our business here in New Brunswick.”
Apex began operating in Moncton in 1961 as a repair machine shop for heavy industry. Today, it is a manufacturing, distribution and solutions company that operates in various sectors, including aerospace and defence, oil and gas, mining, ophthalmology and construction.