Chalk up another victory for Canadian government funding as MPIQC expands its facilities with assistance from the Southern Ontario Fund for Investment in Innovation (SOFII) program. MPIQC is an electronics manufacturer that provides products and services for a vast assortment of clientele including space and satellite, military and defense contractors, communication firms, government, automotive speciality firms, and medical companies. They are based in a 85,000 square foot facility in Cornwall‘s Business Park. MPIQC was recently awarded funding to purchase new cutting-edge equipment and as a result, was able to create 15 new jobs. The company received a total of $1.2 million in loans, $500,000 of which came from SOFII. The remaining funds came from Community Ventures Capital Fund Inc. ($450,000) and the SD&G Community Futures Development Corporation ($250,000).
“This combined investment will assist us in taking MPIQC to the next level,” said Claude Girard, President and COO of MPIQC. “Our company is growing and so is the need to update our equipment. Because of the support of these investing partners MPIQC now has the latest technology to increase its productivity and compete on the global scene.”
SOFII is a $20-million program run through FedDev’s Prosperity Initiative and provides interest-bearing business loans of up to $500,000 which are aimed at supporting high-growth, innovative Small and Medium-sized Enterprises (SMEs) in knowledge-based industries.
