Invest WE head says Stellantis announcements will secure regional economy for a generation
The investments by Stellantis and various levels of government into retooling and modernizing the Windsor Assembly Plant, as well as creating new research and development centres in Windsor, will secure the economic health of the region for a generation.
That from Invest Windsor-Essex president and CEO Stephen MacKenzie speaking about Monday's big announcement.
MacKenzie says the exact job numbers weren't given, outside of the 650 earmarked for the R&D centres, but he believes it'll be in the thousands once the retooling of the assembly plant is finished and the third shift returns.
"It's just amazing, and it secures all the supply chain tier one and tier two companies. Our parts companies here, it secures that. It's been the region's strength and now with this new investment and creating the situation where we are the automobility capital of Canada, it's secured for at least a generation," he said.
MacKenzie says announcements like these make it much easier for Invest Windsor-Essex to sell the city and region as a place to do business, even for companies in other industries.
"There's billions of dollars being invested. So think of the due diligence and the analysis that has to take place for a global company that can invest anywhere in the world to invest that here, it's like an instant validation. If there's other companies that are looking to come in, they can say look at what Stellantis and LG Energy Solution have done."
He says that while he can't provide any specifics at this point in time, there will be more good news to come in the months and years ahead.
"We have a number of companies that would be potentially in the supply chain for the battery company," MazKenzie continued. "But we're also working hard to hopefully launch a program this month, a workshop for companies that are here already, to say what's going on with the electrification of the auto industry and how might my company participate."
Stellantis announced Monday they're making a $3.6 billion investment in their plants in both Windsor and Brampton to accelerate the creation of electric vehicle supply chains in North America.
The provincial government is pitching in $513 million in funding to support the projects, while the federal government is investing $529 million.