The Goodyear Tire & Rubber Company declared that it would upgrade and expand its Napanee, Ontario, facility with an investment of more than CAD 575 million. The goal of this project is to satisfy the changing demands of the all-terrain and electric vehicle (EV) markets. 200 new skilled manufacturing jobs in Eastern Ontario will be created by the project, which has the backing of the local municipalities, the Government of Ontario, and the Government of Canada. Acknowledged as a net[1]zero waste to landfill location, the plant will use energy-saving and carbon emission-lowering technologies. It should be finished by mid-2027.
For this project, Goodyear is working with various governmental levels in partnership.The Government of Canada will contribute CAD 44.3 million through its Strategic Innovation Fund, while the Government of Ontario will provide CAD 20 million via Invest Ontario. Through an Industrial Community Improvement Plan, many local governments, including the Township of Stone Mills, the County of Lennox and Addington, and the Town of Greater Napanee, will provide incentives totaling around CAD 2 million over a four-year period.
Chief Executive Officer and President Mark Stewart stated, “Today’s announcement reinforces our long-term commitment to Canada and enhances our agility and flexibility, positioning Goodyear to meet the evolving needs of our customers now and in the future. We would like to express our gratitude to the federal, provincial, and local governments for their assistance, as well as to our Napanee colleagues for their commitment to creating the tires of the future.”
The enlargement project, which started this year, calls for the installation of technology and equipment. With this advancement, the Napanee plant will be positioned as a top tire manufacturing facility, ready to satisfy the demands of the growing global market. This investment fits nicely with Goodyear’s larger plan to increase shareholder value and spur future growth.
“Companies are selecting Canada from all over the world. The news that Goodyear is updating its Napanee facility today will boost our EV industry, provide manufacturing jobs, and clean our air with cutting-edge technology. It’s a another indication of the trust that Canadian car industry workers have,” stated Prime Minister Justin Trudeau.
“Goodyear Canada’s investment, which builds on the CAD 43 billion invested in the sector over the previous four years, is another major boost to Ontario’s growing electric vehicle sector. Major investments and new employment are being produced all around Ontario as we expand our end-to-end EV supply chain, linking Northern Ontario’s vital minerals to the province’s top-notch industry. Our competitive business environment, talented people, and transit infrastructure are the reasons why companies are selecting Ontario,” Doug Ford, Premier of Ontario, said.
“This announcement represents a significant advancement in the modernization of Canada’s automotive industry. We are propelling Canada to the forefront of the clean economy by collaborating with Goodyear Canada. This investment contributes to the modernization of the tire industry by marking a notable improvement in tire technology. In addition to producing high-quality jobs, it will also significantly boost Ontario’s economy, demonstrating our commitment to a robust and sustainable automotive industry,” François-Philippe Champagne, Minister of Innovation, Science and Industry, said.
This statement demonstrates Canada’s thriving and expanding EV industry. This investment will strengthen our economy, create high-quality jobs, and keep the environment at the center of our business. Minister of Export Promotions, International Trade and Economic Development Mary Ng stated, “It is these investments in growth sectors that allow Canada to remain a trusted partner to international companies and allow us to remain a top destination for global investments.”
“Ontario has emerged as a Get App Leaders due to its abundance of vital minerals, highly skilled workforce, and growing advanced manufacturing industry. Talk About Events Name Brands webinars Additional ology Sections Mobility’s Future: S4 Auto Components Videos Exclusives from Consumer News With over $43 billion in new auto investments over the past four years, North America is the leader in the production of electric vehicles. Another crucial link in the expanding and active end-to-end EV supply chain in our province is Goodyear’s investment in their Napanee production facility. Thank you, Goodyear, for your continued commitment to Ontario’s talented auto sector workers,” Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, said.
The news that a sizable investment has been made in Goodyear Napanee excites me. For more than 35 years, Goodyear Canada has been a model corporate partner in our community and the largest employer in Greater Napanee. They play a crucial role in our community’s development and prosperity. Our region will continue to grow as a result of this investment for many years to come. Terry Richardson, Mayor of Greater Napanee said, “On behalf of the Town of Greater Napanee, I would like to thank our federal and provincial partners for this investment in Goodyear Napanee and our community.”
“It’s an exciting moment for Goodyear and our towns because the expansion will create a significant number of jobs and guarantee that Goodyear Napanee will be a top tire manufacturing site for many years to come. Being the home of Goodyear makes us proud,” John Wise, Reeve of Stone Mills Township, said.
“Goodyear’s growth is a noteworthy accomplishment for the province and the area. Working closely with partners at all governmental levels, Invest Ontario supported the company’s choice to invest in Ontario, a top-tier jurisdiction. Invest Ontario is devoted to helping investors succeed by offering knowledge and services that are specifically designed to meet their needs,” Michael Fedchyshyn, Interim CEO and VP, Strategies and Business Solutions, Invest Ontario, said.
