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Investment signals confidence in Ontario’s plan to support northern jobs and prosperity
The Ontario government is building Ontario by attracting jobs and investment in every corner of the province, including historic and transformative investments such as Algoma Steel’s all-new low-emission Electric Arc Furnace (EAF).
“Previously, Algoma Steel was buried in red tape, facing unpredictable skyrocketing hydro costs, and struggling to stay competitive, keep the lights on, and support current and retired workers,” said Ross Romano, MPP for Sault Ste. Marie. “Early in our mandate, our government stepped up for the nearly 9,000 retired steel workers by protecting their pensions and providing $60 million in financing to fund much needed capital expenditures in the plant. Next, we cut job killing red tape and made hydro rates competitive and predictable, which allowed Algoma Steel to emerge stronger than ever. These investments will ensure that there will be many more generations of steel workers who will have the benefit of supporting their families with good paying jobs and contribute to the growth of our community in Sault Ste. Marie.”
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