The Ontario government is investing $3.46 million in Element5 to help the mass timber manufacturer expand its operations.
The local company in St. Thomas is Ontario’s first certified manufacturer of cross-laminated timber, part of the fast-growing field of advanced wood construction which builds faster and more efficiently than traditional building materials.
Nolan Quinn, Associate Minister of Forestry shared that this funding will increase the facility’s space by 68,000 square ft. and more than triple the company’s production, boosting revenue by over 300 per cent and export sales by nearly 600 per cent.
It was welcomed news for Mayor Joe Preston, who thanked the province for the steady stream of job opportunities coming to the city.
The announcement was made Tuesday morning in St. Thomas, with Paul Calandra, Minister of Municipal Affairs and Housing and Rob Flack, MPP for Elgin-Middlesex-London on hand.
That’s also where Minister Quinn shared details about Ontario’s new Advanced Wood Construction Action Plan, which looks to expand wood construction in the province.
Written by: K. Freeman
