The Ontario Government has announced $1.2 million in funding for the Van Norman Innovation Park in Tillsonburg.
The investment required, which has been in the planning stages several years, accounts for over 50% of the Town’s average annual capital budget and had created a barrier for the Town.
The Community Economic Development Grant, announced by Oxford MPP Ernie Hardeman on August 14, means the Town will be able to proceed with the required infrastructure investments and provide assurance for investors considering the municipally-controlled business park for advanced manufacturing operations.
“Having pre-serviced, shovel-ready land available is key to attracting new investment to our community,” said Tillsonburg Mayor Stephen Molnar in a media release, “and the Ontario Government’s support will enable us to move our community forward. This investment will help launch our community’s economic rebound and contribute to Ontario’s pandemic recovery.
“The park is ideally suited for companies in the advanced manufacturing, information technology and food processing sectors,” said Cephas Panschow, Economic Development Commissioner. “Tillsonburg’s low industrial taxes and its locally-owned hydro utility mean lower operating costs for businesses as well.”
“Since taking office, our government has sent a clear message that Ontario is open for business and open for jobs,” said MPP Hardeman on Friday. “We’re creating an environment where businesses can focus on what they do best – developing great products and services and building successful companies. It’s great to see the Town of Tillsonburg invest in the infrastructure that will help to attract and retain those businesses here in Oxford.”
“Today is an exciting day for the Town of Tillsonburg,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “This investment in the Town’s business park will help promote the growth of the advanced manufacturing sector and attract well-paying jobs to the community and surrounding regions.”
Named for Tillsonburg’s Van Norman family, the a 37-acre business park is located on the south side of Highway 3, at Clearview Drive. Thousands of vehicles pass the site daily, and available amenities include access to gigabit broadband, as well as water, sewer, hydro and natural gas service.