More jobs coming to Welland via Hydac expansion

A hydraulic equipment manufacturer and supplier is embarking on a nearly $2-million expansion that will create a handful of new jobs in Welland.

Hydac Canada, at 14 Federal Rd. facing Prince Charles Dr., has been awarded a Welland Niagara Gateway Economic Zone and Centre community improvement plan grant towards construction of its $1.825-million project.

The company plans to build a 1,214-square-metre shop addition to its existing 3,088-square-metre manufacturing facility.

According to a city report, the new facility will create the equivalent of five to six full-time jobs, while retaining 43 full-time jobs.

The development will include nine sheltered bicycle parking spots.

Hydac has qualified for $194,400 through the city’s Tax Increment Based Grant Program, for which costs are shared by Niagara Region. The annual grant payment will be about $38,867 over each of the coming five years, the report showed.

When the project is completed, it will represent an additional $28,608 in tax revenues to the city and $26,900 to the region, combined more than $55,500 annually.

Hydac was founded in 1995, as a division of Hydac International based out of Germany. Its products can be found in numerous applications, including for wind turbines, roller-coasters and airplanes.

It was established as the sole distribution centre for Hydac International in Canada, but in Welland is now progressing more heavily toward manufacturing.

From Greg Furminger of Welland Tribune

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