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BC Invests $900K to Triple Steel Output
2 May
Summary
- Provincial funding of $900,000 will expand Niik Steel's Nanaimo facility.
- The investment is expected to create 26 new jobs and triple steel production.
- Niik Steel aims to build a new 8,000 sq ft facility alongside expansion.
British Columbia is providing nearly $1 million in funding to Nanaimo-based Niik Steel to bolster its manufacturing capacity and create jobs. The company will receive $900,000 to expand its current site and acquire new machinery, a move expected to triple its steel production output.
This investment will support the creation of 26 new jobs, with further ambitions to grow the workforce to 200 employees within the next year. Niik Steel also plans to construct an additional 8,000-square-foot facility.
The funding is part of the province's "Look West" strategy, aimed at developing a resilient economy. Officials highlighted how increasing domestic manufacturing capabilities strengthens supply chains and supports infrastructure projects like schools and hospitals across British Columbia. This initiative is a component of the broader B.C. Manufacturing Jobs Fund, which has already supported numerous projects province-wide.
