Collingwood-based business receives $500,000 State Government grant to cover expansion costs
A Collingwood company is preparing to make a big splash with a major expansion and the hiring of new staff.
Sensor Technologies Inc. was recently awarded a $500,000 grant from the Regional Development Program's Southwestern Ontario Development Fund, which will help fund a $3,333,333 investment the company is making to hire 11 additional staff and expand its Collingwood facility.
“It's fantastic. It proves that we're on the right path and that we have the support. It means a lot to us,” said Niru Somayajula, president and CEO of Sensor Technologies Inc. “We're seeing a significant increase in demand for projects, so we're doing a pretty significant facility expansion.”
“Customers want more of what we're making.”
Mr Somayajula said Sensor Technologies' facility at 16-20 Stewart St. was already full and was currently at maximum capacity.
Sensor Technology Ltd. manufactures underwater communications sensors. One of the most common applications of this technology is in military applications, but it is also used in underwater oil and gas detection and fish conservation efforts.
Somayajula said political instability across the world has helped expand the market for their products and their business is attracting more customers with time.
“This helps us understand the threats we face on a global scale,” she said. “Navies around the world are preparing for potential conflict, and we're a big part of their sensing needs.”
“Our sensors protect people. It's a great mission.”
Work to disburse the funds has already begun, with 20 new staff being hired since December last year.
“Even if we didn't get the funding, we would still go ahead with this project. The funding the government has given us is fantastic and really helps.”
Somayajula said work is currently underway to determine whether it makes sense to build a large, modern facility on Stewart Street, or somewhere else entirely so that workflow isn't disrupted.
But when it comes to making that decision, Somayajula has one non-negotiable condition: staying at Collingwood.
“We want to stay as close as possible to where we are. I live here. I don't want to go anywhere else,” she said.
Brian Sanderson, MP for Simcoe Grey, said in a news release that the province's investment will help grow manufacturing and create good-paying jobs.
“Our government is building a stronger Ontario and strengthening our economy by supporting important investments in communities like Collingwood,” Sanderson said. “I would like to congratulate and thank Sensor Technologies for their investment in our community.”
