Province lends $4.5M for Charlottetown Metal Products expansion

The province is lendingover $4.5 million for a 50,000-square-foot expansion to the Charlottetown Metal Productsfacility in Milton, P.E.I.

CMP's facilitymanufactures stainless steel food processing equipment and turnkey solutions.

The expansion will result in new jobs, increases in production, research and development capabilities and more exports, the province said in a release.

CMP president Trevor Spinney said the investment is hugefor the growing company.

"The commitment from the provincial government to support our project made all the difference of deciding to locate our expansion here," he said.

"So we're delighted at CMP that this is happening and, you know, right out in ourback 30 acres."

Spinney said the company will now be able to increase its export capacity overseas in Asia, Europe and South America.

Trying to lure talent back home

The total cost of the project is $7.5 million and the province is supporting the project with a repayable loan just above $4.5 millionfrom the P.E.I. Century Fund.

Spinney said the funding will also go towardexpanding CMP's workforce by 55 jobs.

He said he hopes to attract more Islanders back home in the hiring process.

"We've got a lot of talented folks that are looking to try to find a way to head back home," he said.

"We offer good paying jobs which makes that equation work for themto, you know, get folks out of western Canada or the Greater Toronto Area."

Spinney said he's looking to grow his engineering team,technical sales teamand manufacturing department.

Local company, quality products

The project is expected to get underway later this year.

"This is an excellent example of a local company expanding to better meet the current and future needs of customers, while putting a sharp focus on improving their already quality products,"said Matthew MacKay, economic growth, tourism and culture minister in the release.

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