news-honda invest million alliston
Ontario Secures Honda Investment of $857 Million
Partnership Protects 4,000 Jobs and Long-Term Future of Alliston Plant
November 6, 2014 10:20 A.M.
Ontario is partnering with Honda to make the company's Alliston plant one of the most innovative in North America, Premier Kathleen Wynne announced today. The partnership reinforces Ontario's position as a global leader in auto manufacturing, and will protect 4,000 highly skilled jobs at the plant and thousands more in the supply chain.
Honda will invest about $857 million over three years in leading-edge technologies for vehicle assembly and engine manufacturing, as well as worker training and research and development partnerships with Ontario universities and colleges. This project will make Honda's Alliston operation a teaching plant for all other Honda facilities worldwide.
Ontario will provide a conditional grant of up to $85.7 million for this transformational project. Provincial support helped Honda of Canada Mfg. in Alliston win out over other Honda plants which were competing to be chosen for this project. The province's investment will help enhance workers' skills and secure the Alliston plant's long-term future.
Attracting new investments and helping the province's businesses compete globally is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.
- The Honda investment will generate hundreds of millions of dollars of new business for Ontario-based auto parts companies that supply the Alliston operations.
- Ontario's business support grants are contingent on the company meeting investment and job targets. Projects are closely monitored over their lifespan to protect taxpayers' investment.
- Honda became the first Japanese automaker to manufacture in Canada when it opened its Alliston assembly plant in 1986. It added a second assembly plant in 1998 and an engine plant in 2008.
"Our government is proud to partner with companies that are making the investments in innovation and skills that help us compete globally. The fact that Ontario successfully competed for this project reinforces our position as a global leader in auto manufacturing, and it is a vote of confidence in our province as a great place to do business - now and in the future."
Premier of Ontario