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01-12-2011 01:29 PM CET | Energy & Environment

Press release from: Factor Power Inc.

Factor Power Inc.

Factor Power Inc.

Media Release

Date: January 9th, 2010
For Immediate Release

Vaughan, Ontario – On Friday January 7th, the Honourable Julian Fantino Minister of State for Seniors and Member of Parliament for Vaughan, announced that the National Research Council’s Industrial Research Assistance Program has invested $100,000 into two Vaughan enterprises. Factor Power Inc. and AirGenuity Inc. representatives stood by Minister Fantino today as he made the announcement to reporters and employees at Factor Power’s Facility in Woodbridge.

“Factor Power and AirGenuity are prime examples of Vaughan’s entrepreneurial spirit and economic drive which NRC’s IRAP investment is meant to promote. We are providing international leadership and growth during these economic times. The Harper government is committed to continuing its job creating, low tax plan and to invest in Vaughan’s future.” Added Minister Fantino

Paul Frith, President of Factor Power Inc., made mention of the benefit that this recent investment has brought to his small business. “Upon discovering that we secured the funding; our organization grew from 5-9 employees in large measure due to this new funding. Every contribution counts when it comes a small business.” Stated Mr. Frith.

NRC’s IRAP has received an incremental investment of $200 million over two years through Canada’s Economic Action Plan. These new funds are committed to help build a competitive edge for Canada based on excellence in science and technology. The funding includes $170 million to double NRC’s-IRAP contributions to firms and $30 million to help hire more than 1,000 new post-secondary graduates via its Youth Employment Program. Estimates indicate that this money will allow NRC’s-IRAP to support approximately 1,400 additional small- and medium-sized enterprises beyond its existing clientele over two years.

“The thing I always like to talk about when we refer to job growth is families. These jobs go beyond the employees where their families depend on these incomes; their children and their education and to provide a standard of living.” Said Minister Fantino.

With over 20 years combined experience in the power industry, we fully understand the unique requirements of our clientele. From custom systems to in stock items, we will make sure you get what you want very cost effectively.

Factor Power Inc.
131 Whitmore Road, Unit 7
Woodbridge, Ontario
L4L 6E3

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