The Ontario government is providing some financial support to a Wallaceburg business in the wake of U.S.-based tariffs.
The province will be investing $288,523 through the Ontario Together Trade Fund (OTTF) to help pay for new equipment at Five Star Tool & Die. The funds will support the $1,442,617 purchase of new equipment to produce new die products used in hydroforming and low-pressure diecasting at the Wallaceburg business.
The province said the company has already started to sell new products to new customers in the Canadian auto sector and U.S. appliance/plumbing sectors, which are not subject to tariffs.
“Five Star Tool & Die’s investment will help them adapt, stay competitive and continue creating good jobs in these uncertain times, all while helping make Ontario’s economy more competitive, resilient and self-reliant,” said Lambton-Kent-Middlesex MPP Steve Pinsonneault in a news release.
The investment is also expected to create seven new jobs and protect 28 existing positions in the Wallaceburg area.
The OTTF was first announced as part of the 2025 Ontario Budget and is part of the province’s tariff relief and support plan to protect the province’s workers and businesses from economic uncertainty.