Canadian province Ontario is entering into a partnership with auto parts manufacturer Linamar, under which the company will invest $506.8m in the region.
About $50.25m out of the $506.8m is expected to be given by Ontario for the creation of create 1,200 jobs over the next 10 years in the province.
Linamar is investing in its research and development facilities in Ontario to enhance the long-term competitiveness of its Ontario operations.
According to Linamar, Ontario highly skilled workforce and R&D capabilities and the investment will help the company to develop and manufacture components for the next generation of fuel-efficient cars.
Linamar Corporation CEO Linda Hasenfratz said: "Our Canadian plants are our most productive globally thanks to a talented, skilled workforce with an amazing work ethic and a dedication to process and product innovation throughout our company.
"It is critical for our governments to also create a competitive environment for companies to invest and they certainly have done so today with this funding in addition to a competitive tax rate and support for innovation and education unparalleled globally. We are thrilled with this partnership for success!"
