The Ontario government will provide funding of $1.2 million for the Van Norman Innovation Park in Tillsonburg.
The investment required, which has been in the planning stages several years, accounts for over 50 per cent 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 Aug. 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 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.