Thirteen new, high-skilled manufacturing jobs will be coming to Stratford due to a $500,000 investment from the Government of Ontario.
Barry Magna, chief financial officer of New-Form Tools Ltd., said that will be just the beginning for the growing family business.
“We started this venture five years ago,” Magna explained about their sawblade manufacturing. “And since then, we've gone from 35 employees to 62 employees … I don't know exactly what the numbers are going to be, but we’ll probably be upwards of 80 by the end of this contract.”
New-Form Tools Ltd. is a family-owned business in Stratford, just off of Lorne Avenue, that creates metal cutting solutions like sawblades. President Jim Jantzi – and the whole team for that matter – said that they are proud to be creating the “best sawblades in the world.”
This funding is part of a $5.9 million investment by the company to expand its existing tungsten carbide tip circular sawblade manufacturing, as well as developing new manufacturing processes to enhance in-house production.
The project will utilize advanced technology and proprietary methods to improve efficiency and reduce waste. The investment will also reduce reliance on the global supply chain, as saw bodies will be manufactured in-house.
“We make a better product than anyone in the world right now,” Magna said, pointing out that there are only three manufacturers that make similar products in the whole world. “And it's because of this equipment.”
Matthew Rae, MPP for Perth-Wellington, announced the funding on Friday at the organization’s headquarters.
“Our provincial government will continue to support our thriving manufacturing sector across rural Ontario,” said MPP Rae in a media release. “This investment will help retain and create new high-skilled, good-paying jobs in the City of Stratford. It will also help make a local employer more resilient to global supply chain shocks.”
The investment is through the Southwestern Ontario Development Fund, which is part of a $150 million regional development program aimed to help manufacturers across the province grow while supporting distinct regional priorities.
To date, Ontario has supported more than 110 projects through the program, leveraging more than $1.6 billion in new investments and helping to create over 3,000 jobs.
New-Form Tools is a family business, serving the region for the last 35 years. Jantzi and wife Carolyn are part-owners and their sons Tyler, Jarret, and Andrew work for the company and are equally excited for the expansion.
“We’re just literally getting started,” said Jarret, director of product development. “The opportunity worldwide is massive and the position where we’re at with making the best blade in the world – we’re in a great position. It’s really exciting.”
