Veritas Tools, the manufacturing arm of Lee Valley, is a world leader in woodworking tool-design innovation.
The Ontario government is providing $675,000 in funding to Ottawa’s Veritas Tools Inc. through the Regional Development Program’s Eastern Ontario Development Fund.
The funding is in support of a $4.5 million investment by Veritas Tools to increase production and add new state-of-the-art equipment to meet growing global demand.
“Local manufacturers like Veritas Tools play a key role in communities across the province, and our government is proud to support them as they expand and create more good-paying jobs,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Just last month, we saw the manufacturing sector in Ontario grow by over 20,000 jobs. We continue to create the right conditions to attract investments from both global and domestic companies.”
Veritas Tools, the manufacturing arm of Lee Valley, is a world leader in woodworking tool-design innovation. With more than 1,250 woodworking tool products and more than 100 patents, Veritas Tools manufactures some of the most sought-after woodworking tools in the world.
“Lee Valley and Veritas Tools are committed to domestic manufacturing, creating and preserving meaningful employment. We believe these to be foundational to a healthy economy. Investment in these areas is critically important and remains a priority,” said Jason Tasse, President of Lee Valley. “We appreciate the support of Ontario’s Regional Development Program. Strengthening Canada’s manufacturing sector is most effective in collaboration, as demonstrated with this expansion initiative.”
Ontario is investing $140 million through its Regional Development Program to support distinct regional priorities and challenges. To date, Ontario has provided more than $91 million to support 84 projects through the program, leveraging more than $940 million in new investments and helping to create more than 1,800 jobs in the province.