Province, federal government say 80 jobs to be created through investment in Apex Industries

Government says Apex Industries will create up to 80 full-time jobs in Moncton over the next two years through a federal and provincial government investment of $2.6 million.

Apex is eligible for up to $1.1 million in funding from Opportunities NB over a period of four years. 

The investment includes a non-repayable contribution of $500,000, or up to 10 per cent of the total capital expenditures, and up to $600,000 in the form of payroll rebates.

The federal government is providing a $1.5 million repayable contribution through ACOA's Business Development Program. 

Government says the Moncton-based manufacturing company will use the funds to increase its machining capacity to serve aerospace and defence markets, as well as oil and gas markets. 

It's also developing additional optical coating machines and expanding its steel door manufacturing business, which ships products to more than 110 countries.