Amherst Firm Expands to Explore New Markets

first_imgIt takes real vision to stay ahead of the competition. Amherst-based electronics company C-Vison is looking to take the lead with a technology expansion project expected to create up to 50 new jobs over the next five years. A $1.5-million loan from the province, together with a $500,000 loan from the Atlantic Canada Opportunities Agency (ACOA), will help C-Vision introduce state-of-the-art equipment and processes to help attract new business. Economic Development Minister Richard Hurlburt and MP Bill Casey, on behalf of Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency, made the funding announcement today, May 24. Mr. Hurlburt said it is the kind of investment government encourages as part of the province’s economic growth strategy, Opportunities for Sustainable Prosperity. “C-Vision is very much a community success story,” said Mr. Hurlburt. “By adopting new technology, going after new markets and producing environmentally friendly products, it is creating new jobs for Nova Scotians and enhancing its export potential; all three increase Nova Scotia’s economic prosperity.” ACOA approved a $500,000 loan earlier this year and with the province’s funding, C-Vision is expected to complete the expansion by 2008. “Canada’s government is working in partnership to get things done for Nova Scotia,” said Mr. Casey. “This investment of $500,000 will promote innovation, open new technology markets, and contribute to the growth of the aerospace and defence, and medical sectors in this region.” Based in Amherst, C-Vision is a locally owned and operated company offering electronics manufacturing and design services. The company is building on the success of its lead-free products and expanding to target new market opportunities in aerospace, defence, homeland security and the medical industry. The company also plans to upgrade its standards development above the current ISO 9001 level. “To succeed in an increasing competitive global market, C-Vision realizes that it must continually upgrade its capabilities and forge ahead into more technically challenging markets,” said Mr. Cartmill. “The financial assistance received from Nova Scotia Economic Development and ACOA, combined with business development support from Nova Scotia Business Inc., will provide the foundation for us to do just that.” The company’s $4.3-million technology expansion project is a substantial investment in testing and assembly equipment. Economic Development is providing a $1.5-million loan through the Industrial Expansion Fund. Half will be repayable, with interest, and half will be forgivable, based on the company reaching job-creation targets. C-Vision employs 100 people. C-Vision has had rapid growth since operations began in 2002, growing from one to 100 employees over four years. Early adoption of lead-free technology helped increase its competitiveness in local and international markets. The expansion will help the company become more globally competitive and attract new business.last_img

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