FREDERICTON (GNB) – The provincial and federal governments are investing a combined $2.5 million to help Ironwood Manufactured Homes, a Woodstock-based modular home manufacturer, expand its facility, enhance production capabilities and create up to 32 full-time positions.
“This strategic investment in Ironwood is a prime example of how our government, through Opportunities NB, is supporting innovation, job creation and housing solutions in the province,” said Luke Randall, minister responsible for Opportunities NB. “By positioning itself as a leader in the modular construction sector, Ironwood is directly contributing to the New Brunswick housing strategy, Housing for All. We are proud to support Ironwood’s growth as they play a vital role in meeting the increasing demand for affordable housing, both in New Brunswick and beyond.”
The provincial government is providing a conditionally repayable loan of up to $1 million to support workforce expansion and the implementation of new state-of-the-art automation equipment aimed at improving productivity.
The federal government, through the Atlantic Canada Opportunities Agency (ACOA), is providing a repayable contribution of $1.5 million dollars to support construction of a nearly 11,000-square metre (117,000-square foot) manufacturing facility. This also includes funding for the purchase of advanced manufacturing equipment to help the company build homes faster and more efficiently.
It is estimated these investments will create up to $6.9 million in direct provincial GDP by the end of 2030.
“Affordable housing is a critical piece of the puzzle when it comes to building strong communities,” said Rural Economic Development Minister Gudie Hutchings, who is also minister responsible for ACOA. “This support from your federal government is going to help Ironwood Manufactured Homes build more affordable homes, faster – creating jobs and making life better for folks who need a place to call home.”
The company was founded in 2018. These investments in a new facility and advanced equipment will help it address the rising demand for housing while offering a greater range of home designs.
“Modular housing is a growing industry in Canada and offers a more cost-effective and efficient way to build homes,” said Mark Gaddas, president of Ironwood Manufactured Homes. “With the provincial and federal governments’ support and the industry’s projected growth, modular housing is likely to continue to be a significant player in the Canadian housing market.”
Hiring has already begun, and employment opportunities are available on the company’s website.
“Investing in modular housing production is an investment in the futures of our children, our families and our communities,” said David Hickey, minister responsible for the New Brunswick Housing Corporation. “This increased capacity for production will get us closer to our goal of safe and affordable housing for all New Brunswickers, and I am so pleased to see this important work coming together.”
Opportunities NB is a Crown corporation and the lead economic development agency for the province. It seeks to attract and support opportunities to stimulate economic growth and create jobs by providing support services for businesses.
MEDIA CONTACTS:
Michel LeBlanc, communications, Opportunities NB, michel.leblanc@onbcanada.ca.
Ann Kenney, communications, Atlantic Canada Opportunities Agency, ann.kenney@acoa-apeca.gc.ca.
