Provincial government invests $500,000 into Stratford business

Magest Building Systems Limited seen in Stratford, Ont. (Source: Google Maps)

The provincial government is investing $500,000 into Stratford’s Magest Building Systems Limited, in addition to Magest’s own investment of $12,320,000.

The collective investment will create 30 new good-paying jobs, while also protecting 80 existing jobs.

“By investing in Magest’s expansion, we’re protecting local jobs and helping build more homes,” said Matthew Rae, MPP for Perth-Wellington.

“This means increased production in Stratford and more supply to meet demand. This investment is strengthening our manufacturing sector and supporting workers across Perth-Wellington.”

Magest has plans to finish building additions, install automated equipment, and install new software.

“Magest is proud to receive support from the Southwestern Ontario Development Fund for our new hollow core production facility in Stratford,” said Brock Martin, President of Magest Building Systems Limited.

“This investment has created 30 local jobs, strengthened vertical integration across our operations, and expanded capacity for the multi-residential housing sector. By increasing efficiency and production, this project supports the Government of Canada’s Build Canada Homes Faster initiative and helps address the growing demand for housing across the region.”