Wawa OSB Inc. will receive up to $15 million in grants from the Ontario government to support a new plant for producing oriented strand board (OSB), a material used in home construction.
The province said in a press release that this grant will build a stronger forestry sector, create jobs and bring economic growth to northern and Indigenous communities.
“This exciting opportunity is another example of a new company choosing to invest in Ontario because of an improved business environment, and it will bring good jobs back to this region and benefit Indigenous communities,” said Greg Rickford, Minister of Northern Development, Mines, Natural Resources and Forestry.
The funding is through the province’s Forest Sector Investment and Innovation Program, which aims to improve productivity to strengthen regional economies.
The press release said Wawa OSB will spend $181 million to build Ontario’s third OSB manufacturing facility, expanding the province’s production capacity to satisfy growing demand.
Wawa OSB executive vice-president, Yolaine Rousseau, said the grant is a key step in financing the company’s project to reopen the Wawa OSB mill.
The funding is conditional on the completion of key project milestones and finalizing a contract between Wawa OSB and the province, the press release added.
It said Wawa OSB is yet to achieve several other milestones before they can be fully functional, including working with local Indigenous and municipal communities, as well as local Sustainable Forest Licence holders.