Ottawa investing in business growth, trade resilience in southern Alberta

The federal government is investing $9 million to support small and medium-sized businesses in southern Alberta, aiming to boost growth and economic development

The federal government has announced funding to support southern Alberta companies as they continue to adapting to tariffs and shifting global trade conditions.

Six projects in Lethbridge and across southern Alberta will share $9 million in federal funding through the Regional Tariff Response Initiative under Prairies Economic Development Canada, minister responsible for PrairiesCan Eleanor Olszewski told reporters Friday.

“(The funding) will help businesses build on what they’re already doing to improve their productivity and strengthen trade opportunities and diversify markets as well,” said Olszewski, who is also minister of emergency management.

The investments aims to help local small- and medium-sized businesses build on existing efforts to grow, improve productivity, strengthen domestic trade opportunities and position themselves to diversify their markets.

Some Lethbridge businesses receiving funds say the help them reach new heights.

“Through RTRI investment, Lethbridge Iron Works will install a new state of the art molding machine,” said Dylan Davies, president of Lethbridge Iron Works.

“The company will improve production efficiency, quality consistency and manufacturing capacity. This will allow the company to respond to existing customer demand while pursuing new opportunities in North American industrial supply chains.”

“These upgrades have us moving materials more smoothly through our facility, which reduces our production constraints and it’s increasing our overall manufacturing capacity,” said Simarjit Bains, vice-president of manufacturing with Triple M Housing.

“That means we’re better positioned to respond to the growing demand of quality modular housing across Canada.”

The local funding is part of $1.5 billion being offered through the RTRI to help businesses across the country.

“Southern Alberta’s economy is built year-round, and it’s built by the efforts of businesses, workers and communities across this great region,” Olszewski said.

The new funding will support more than 217 jobs in the region.

“The businesses receiving support today represent the innovation, resilience and entrepreneurial spirit that drives our local economy,” said Lethbridge deputy mayor Rajko Dodic.

The six projects receiving funding in southern Alberta include:

• Lethbridge Iron Works, which will receive $1 million. The company says it will upgrade to an automated moulding system to increase production capacity and enhance efficiency while reducing waste and emissions;
• Oyen Regional Rail Company will receive $1 million. It says it will expand its railyard by building a covered transloading facility, a dedicated loading area and additional rail infrastructure to handle more grain and canola;
• Southland Trailers will receive $5 million to help automate inventory and improve manufacturing processes. The company says $4 million of those funds will be repayable;
• TCB Manufacturing will receive $1 million to expand its metal fabrication facility;
• Triple M Housing will receive $1 million to expand and purchase new equipment.