Goodyear Canada Inc. investing more than $575 million to expand Ontario plant, creating and securing more than 1,000 jobs

NAPANEE, ON, Aug. 12, 2024 /CNW/ - From mining critical minerals to building cars and batteries, Canada is attracting historic investments to help secure and create jobs, grow our economy, and keep our air clean. In the last four years, we've seen companies announce more than $46 billion in electric vehicle (EV) manufacturing investments across Canada. They want a reliable partner with world-class talent, and this is exactly what we have to offer.

Today, the Prime Minister, Justin Trudeau, and the Premier of Ontario, Doug Ford, joined representatives from the Goodyear Tire and Rubber Company to announce the company's more than $575 million project to modernize and expand its plant in Napanee, Ontario. This investment will help Goodyear create an energy-efficient, end-to-end manufacturing process and increase its production capacity, including of EV and all-terrain tires.

The project will create 200 new, highly skilled manufacturing jobs by 2027 and secure more than 1,000 jobs in Napanee. This project will get Goodyear's Napanee plant to net-zero emissions by 2040, helping achieve Canada's goal of a net-zero economy by 2050.

Goodyear Canada will receive federal funding of up to $44.3 million from the Strategic Innovation Fund for this expansion project.

The Government of Ontario, through Invest Ontario, will contribute $20 million to support key components of the project, including the implementation of innovative technologies and skills training programs.

The company will leverage existing collaborative programs to help ensure Canada remains a world leader in the EV sector.

Goodyear's modernization project is another vote of confidence in Canada, and today's announcement highlights Canada's growing and dynamic EV sector. This investment will generate high-quality jobs, boost our economy, and continue to place the climate at the forefront of our economy. It is these investments in growth sectors that make Canada a trusted partner for international companies and allow us to remain a top destination for global investments.

Quotes

"Companies from across the world are choosing Canada. Today's announcement that Goodyear is modernizing its Napanee plant will create manufacturing jobs, grow our EV industry, and use modern technology to keep our air clean. It's another vote of confidence in Canada's auto sector workers."
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

"Goodyear Canada's investment is another significant boost to Ontario's growing electric vehicle sector, building on the billions of dollars that have been invested in the sector over the past four years. Across Ontario, we're seeing major investments and new jobs created as we build out our end-to-end EV supply chain, connecting critical minerals in Northern Ontario to world-class manufacturing across the province. Companies are choosing Ontario because of our transportation infrastructure, our competitive business environment, and our skilled workforce."
— The Hon. Doug Ford, Premier of Ontario

"Today's announcement is another great step toward the modernization of Canada's automotive sector. By partnering with Goodyear Canada, we're driving Canada to the forefront of the clean economy. This investment represents a significant advancement toward innovation in tire technology, helping to modernize the industry. It will not only create high-quality jobs, but also generate substantial economic benefits for Ontarians, reinforcing our commitment to a strong and sustainable automotive sector."
— The Hon. François-Philippe Champagne, Minister of Innovation, Science and Industry

"Today's announcement highlights Canada's growing and dynamic EV sector. This investment will generate high-quality jobs, boost our economy, and continue to place the climate at the forefront of our economy. It is these investments in growth sectors that keep Canada as a trusted partner to international companies and allow us to remain a top destination for global investments."
— The Hon. Mary Ng, Minister of Export Promotion, International Trade and Economic Development

"Boasting a wealth of critical minerals, a highly skilled workforce, and a thriving advanced manufacturing sector, Ontario has emerged as a North American leader in the production of electric vehicles, with over $43 billion in new auto investments over the past four years. Goodyear's investment in their Napanee production facility represents another essential link in our province's growing and dynamic end-to-end EV supply chain. Thank you, Goodyear, for your continued commitment to Ontario's talented auto sector workers."
— The Hon. Vic Fedeli, Ontario's Minister of Economic Development, Job Creation and Trade

"I am excited to see this announcement of a substantial investment in Goodyear Napanee. Goodyear Canada is Greater Napanee's largest employer and has been an exemplary corporate partner in our region for over 35 years. They are an integral part of the growth and success of our community. This investment will ensure further growth for our region well into the future. 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."
— His Worship Terry Richardson, Mayor of Greater Napanee

"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 are appreciative to the federal, provincial, and local governments for their support and to our Napanee associates for their dedication to building the next generation of tires."
— Mark Stewart, Chief Executive Officer and President, Goodyear

Quick Facts

• Goodyear Canada's modernized facility in Napanee, Ontario, is also supported by incentives from the Town of Greater Napanee, the Township of Stone Mills, and the County of Lennox and Addington, as a result of a newly launched Community Improvement Plan.
• This project will take place on the same land as Goodyear Canada's existing Napanee facility.
• The modernized facility will reduce greenhouse gas emissions at Goodyear Canada's Napanee facility by 10 per cent by 2030, and by 100 per cent by 2040.
• In addition to creating and maintaining jobs, this project will continue to support new co-op opportunities for students every year.
• Founded in 1898, Goodyear is one of the world's largest tire companies. It employs about 71,000 people and manufactures its products in 54 facilities across 21 countries around the world.
• Canada's automotive sector builds more than 1.5 million vehicles each year – one every 21 seconds. It supports nearly 550,000 direct and indirect jobs, contributed $18 billion to Canada's gross domestic product in 2023, and is one of the country's largest export industries.
• Investing in cleaner transportation is key to achieving our economic and environmental goals and delivering on Canada's 2030 Emissions Reduction Plan: Clean Air, Strong Economy.
• The Strategic Innovation Fund provides major investments in innovative projects that help grow Canada's economy for the well-being of all Canadians.

Associated Links

• Strategic Innovation Fund 
• Goodyear Canada

This document is also available at https://pm.gc.ca

SOURCE Prime Minister's Office

PMO Media Relations: [email protected]; Grace Lee, Office of the Premier of Ontario, [email protected]