The city and province is contributing funding to expand Price Industries’ Winnipeg manufacturing headquarters and create up to 175 new jobs.
The company is a manufacturer of HVAC and air distribution products, including new products for health care and mechanical and applied equipment.
The 50,000-square-foot expansion will also further develop the Price Research Center North, while also expanding local training opportunities to advance research and engineering capability in Manitoba.
Price Industries will receive $10 million from the province in the form of a repayable, interest-bearing, secured loan. In addition, the province will contribute $1.5 million to train the highly skilled workers needed for the expansion.
The City of Winnipeg will provide an economic investment incentive representing a total of 10 years of estimated full incremental taxes, otherwise payable over a period of 15 years, up to maximum of $800,000.
Price Industries has a local workforce of 850 people.