Provincial Grant of $1.5M for the 417 Industrial Park

PRESS RELEASE
For immediate distribution

December 16, 2024 – A press conference was held at the Russell Township Town Hall, where MPP Stéphane Sarrazin announced a contribution of $1.5 million from the Eastern Ontario Development Fund. This financial support will be dedicated to the expansion of the 417 Industrial Park located in Vars.

The expansion project for the 417 Industrial Park aims to address the labour shortage in Russell Township and the surrounding regions. Currently, the park is home to 82 businesses. Once the expansion is complete, a dozen renowned businesses will be able to set up operations there, creating over 1,500 jobs. With all industrial lands already sold and a waiting list of 12 businesses selected based on strict criteria, it is crucial to develop new lands ready to attract investments.

"Our government is committed to building a stronger Ontario, and that starts with supporting significant investments within our communities," said MPP Stéphane Sarrazin. "The expansion of the Township of Russell will have a major impact on the local manufacturing sector. This is an important step forward for our region, and I am pleased to see this investment come to fruition."

Details of the Expansion Project

The project includes several key activities:

• The design, surveying, topography, and construction of the extensions of Emard and Robot Streets.
• The installation of essential services (natural gas, fiber optics, electrical energy (Hydro), and street lighting).

These developments aim to diversify the types of businesses within the community, thereby increasing productivity and fostering innovation. Investment-ready lands attract businesses on a global scale, enhance local competitiveness, and ensure a dynamic economic ecosystem.

“This grant is excellent news for our community. It supports the continued growth of our 417 Industrial Park by fostering the creation of local jobs, stimulating our economy, and diversifying our tax base. We are grateful to the Ford government and our MPP Stéphane Sarrazin for their commitment to supporting the prosperity and development of our Township” shared Mayor Mike Tarnowski.

Economic Impact and Rigorous Selection

The sale of investment-ready lands will attract innovative businesses that will complement those already established in the Township. The selection of businesses is based on strict criteria:

• Capacity to create a significant number of quality jobs,
• Speed of construction,
• High-projected building value, etc.

These requirements ensure a return on investment through increased municipal assessment of projects. The expansion of the 417 Industrial Park is a critical step toward ensuring the sustainable economic growth of Russell Township.

For more information, please contact the Economic Development Department at ecodev@russell.ca.

In picture from left to right: MPP Stéphane Sarrazin, Mayor Mike Tarnowski and CAO Richard Godin.