The B.C. government has announced nearly $1 million in funding for Niik Steel, a Nanaimo-based steel manufacturer, as part of its "Look West" plan to deliver jobs and develop a more resilient provincial economy.
Niik Steel will receive $900,000 to expand its current site, bring in new machines, and create 26 new jobs. President Amir Jamshidi says this will help triple the amount of steel produced at the facility. The funding comes at a time when U.S. tariffs have created major uncertainty in the steel industry.
"It's a little bit of a challenging time right now, but it's going to benefit our city and our province when we expand to help larger projects," said Jamshidi.
MLA for Nanaimo-Lantzville, George Anderson, says increasing manufacturing capacity within the province helps increase economic activity, generate revenue, and create a more self-sufficient province. He hopes the steel produced in Nanaimo can be used in infrastructure projects, such as building schools, hospitals, and homes across British Columbia.
"It's how we develop resiliency, support supply chains and that's where Nanaimo is going to be helping deliver those results for British Columbians," said Anderson.
Niik Steel will also be building a new facility, up to 8,000 square-feet, and expand its current facility on Maughan Road. Jamshidi says the investment will help create more "family-sustaining" jobs in the region, adding that on top of the 26 jobs created with the purchase of new machines, Niik hopes to expand its workforce to 200 over the next year.
More than $1.2 billion is being invested through the B.C. Manufacturing Jobs Fund, with 2,100 jobs already created across 156 projects in the province.
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