July 22, 2026 – Guelph, Ontario
Guelph is home to a diverse and innovative business community supported by a highly skilled workforce, world-class research institutions, and a collaborative ecosystem that helps businesses grow, innovate, and compete in global markets. As global trade pressures persist, the Government of Canada is investing to strengthen resilience, boost competitiveness, and create good jobs.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined investment of more than $2.1 million to support three Guelph-based businesses as they strengthen operations, enhance competitiveness, and pursue new opportunities across various markets. He was joined by Dominique O'Rourke, Member of Parliament for Guelph.
Through the Regional Tariff Response Initiative, the Government of Canada is making three investments in the region.
Compression molding manufacturer, Comoldco Corporation, is undertaking an over $3-million project, with FedDev Ontario supporting $900,000 to enhance its manufacturing capabilities and efficiency through the acquisition of new equipment.
Benmet Steel & Metal Inc., a scrap metal recycler, is undertaking a $1.4-million project, with FedDev Ontario supporting $700,000 to enhance its manufacturing capabilities and productivity through facility upgrades.
Molding manufacturer, Poly-Nova Technologies Corporation, is undertaking an over $1-million project with FedDev Ontario supporting more than $530,000 to increase domestic tooling, testing, and specialized small-batch manufacturing.
The Government of Canada is committed to supporting Canadian businesses and organizations, safeguarding workers, and strengthening competitiveness, economic resilience, and long‑term prosperity across the country.
Quotes
“The Government of Canada is helping businesses remain competitive and resilient in a rapidly changing global economy. Today's investments will support three Guelph companies in strengthening their operations, increasing productivity, and pursuing new opportunities for growth, helping create good jobs and build a stronger regional economy.”
• The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Guelph is home to innovative businesses that grow our local, regional, and national economy, and support supply chains across Ontario. Today's investments will help these companies adapt and adopt new technologies to remain competitive, support workers, and continue growing here at home.”
• Dominique O'Rourke, Member of Parliament for Guelph
“FedDev Ontario is investing $900,000 to expand Comoldco Corporation’s compression molding capacity, strengthening Canada's domestic composite manufacturing capabilities. This funding will enhance production for key sectors, including automotive, defence, and other industrial applications.”
• Dave Deegala, Vice President Engineering and Operations, Comoldco Corporation
“Poly-Nova Technologies is pleased to receive support from FedDev Ontario through the Regional Tariff Response Initiative. This funding will accelerate our efforts to localize critical components, reducing supply chain dependencies and mitigating cost fluctuations. It will also strengthen our in-house technical expertise, enabling more efficient innovation and the rapid development of advanced materials for our growing global customer base.”
• Kirk Brownell, General Manager, Poly-Nova Technologies
“We are honoured to receive support from FedDev Ontario as this investment will help accelerate our growth and continue developing innovative solutions right here in Ontario. Beyond strengthening our business, this funding allows us to create high-quality jobs, invest in advanced technologies, and better serve our customers across Ontario and beyond.”
• Jonathan Cohen, President, Benmet Steel & Metal Inc.
Quick facts
• Founded in 2010, Comoldco Corporation has become an industry leader in reinforced thermoset and thermoplastic compression molding.
• Founded in 1957 Benmet Steel & Metal Inc. is a family-owned Canadian corporation specializing in metal recycling and processing recycled metals for Ontario's advanced manufacturing industry.
• Founded in 1996, Poly-Nova Technologies Corporation specializes in the engineering, design, and manufacturing of high-performance elastomer materials and components for mission and safety critical applications across automotive, energy, defence and life science markets.
• Through the Regional Tariff Response Initiative (RTRI), the Government of Canada is providing $1.95 billion to help businesses boost productivity, lower costs, strengthen supply chain resilience, and open doors to new markets, enhancing overall competitiveness across all sectors, including steel, aluminum, copper, automotive, food security, and forestry.
• The RTRI is part of a broad set of tariff support measures, including the Large Enterprise Tariff Loan Facility, the creation of a $1 billion Business Development Bank of Canada (BDC) program which includes the Pivot to Grow initiative, and support for the steel sector through the Strategic Response Fund, as well as enhancements to the Work-Sharing Program. Together, these efforts demonstrate a commitment to reinforcing Canada’s industrial strength and defending good jobs across the country.