Provincial funding to create jobs and boost profits for local company
![Element5 funding announcement - july 2024 Element5 is getting $3.46-million provincial investment to help more than triple the company's production. (Gerry Dewan/CTV News London)](/content/dam/ctvnews/en/images/2024/7/30/element5-funding-announcement---july-2024-1-6982857-1722351623884.jpg)
A local business is getting a cash infusion from the provincial government to expand its operations.
Element5 is getting $3.46-million investment to help more than triple the company's production.
"The ongoing support from the province is a cornerstone of Element5’s strategic planning. More importantly, it reflects our shared vision to position Ontario as a leader in advanced wood construction and manufacturing, not only in Ontario, but across Canada and North America. This vision aligns seamlessly with our collective goals around intelligent natural resource use, affordable housing, and responsible environmental impact," said President and CEO Patrick Poulin.
The funding is expected to help create 32 new jobs and increase revenue by 300 per cent, by boosting export sales by nearly 600 per cent.
Element5 specializes in the design, fabrication and assembly of modern timber buildings.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6982733.1722346307!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
Microsoft outage impacting customers in Canada, around the world
Microsoft is reporting issues with its network infrastructure affecting users connecting with services globally, according to the company's status page.
Israel says it has struck Beirut targeting the commander accused in deaths of 12 children and teens
Israel's military said Tuesday it carried out a strike on Beirut targeting the militant commander allegedly behind the deaths of 12 children and teens in a rocket attack on the Israeli-controlled Golan Heights over the weekend.
Erica Ash, comedian and 'Real Husbands of Hollywood' and 'Mad TV' star, dead at 46
Erica Ash, an actor and comedian skilled in sketch comedy who starred in the parody series 'Mad TV' and 'Real Husbands of Hollywood,' has died. She was 46.
Simone Biles soars high during team final in pursuit of fifth Olympic gold
Simone Biles made her long-anticipated return to the women's gymnastics team final at the Paris Olympics on Tuesday, where she is in pursuit of a fifth Olympic gold medal for the United States.
Montreal-area woman shocked to find family rented her pool without her consent
A woman who lives east of Montreal in Repentigny came home to a pool party on Sunday after a family of five had rented it on the Swimply app without the consent of the homeowner.
Acting U.S. Secret Service boss says he 'cannot defend' why roof in Trump rally shooting was not secured
The U.S. Secret Service's acting director told lawmakers on Tuesday that he considered it indefensible that the roof used by the gunman in the attempted assassination of former President Donald Trump was unsecured, faulting local law enforcement for not circulating vital information to federal authorities.
A perfect 10 pose for an (almost) perfect 10 wave goes viral
The Brazilian not only managed to take down the Japanese surfer, he did so in part thanks to a near-perfect 9.90-scoring wave on Day 3 of the surfing competition in Tahiti – taking part halfway around the world from Paris. It was the highest-scoring wave in Olympic history.
Common mental health disorder may triple risk for developing dementia, study finds
As if people with anxiety don’t have enough to worry about, a new study is adding to that list — suggesting the disorder may nearly triple the risk of developing dementia years later.
French police probing alleged abuse targeting Olympic opening ceremony DJ over 'Last Supper' scene
A storm of outrage about the Paris Olympics’ opening ceremony — including angry comments from Donald Trump — took a legal turn Tuesday, with French prosecutors ordering police to investigate complaints from a DJ and LGBTQ+ icon who performed.