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  • News
  • April 11, 2014

Creating New Jobs in the Peterborough Area

Ontario Helps Savage Arms Canada Inc. Expand


April 11, 2014

For Immediate Release


Ontario is helping Savage Arms (Canada), Inc. invest in new equipment and expand its facility while creating 50 new jobs and retaining 130 jobs at the Lakefield, Ontario location.

 Savage Arms (Canada), Inc. is a market leading manufacturer of international award winning rimfire sporting rifles.  The project involves a manufacturing plant footprint expansion at the Lakefield facility and the purchase of new equipment to allow the company to increase production.

  The Eastern Ontario Development Fund is driving job creation and business growth, and was the model for the successful Southwestern Ontario Development Fund. Together, these two funds have strengthened local economies by creating and retaining more than 24,000 jobs.

 Supporting local businesses is part of the government’s economic plan to invest in people, build modern infrastructure and support a dynamic and innovative business climate across Ontario.


 “I am delighted to see that Savage Arms is expanding its manufacturing operation here in Lakefield; creating and retaining jobs in this community.  I want to especially thank the company for their continued commitment to the Lakefield area and am pleased that our government had the opportunity to be a partner in this project.”

- The Honourable Jeff Leal, MPP  

 "With our own capital investment and the EODF grant announced today, we will increase our manufacturing capacity by adding to our current manufacturing foot print and installing the latest CNC and processing technologies. This expansion allows us to continue to provide world class products to our customers. We're very proud of the skilled and dedicated team we've developed and continue to develop here in Lakefield, Ontario."

- Terry McCullough - Vice President & General Manager SAVAGE ARMS CANADA


 Ontario is providing a grant of $1,125,000 towards the project, which has a total value of $7,500,000.

  • Ontario is accepting applications for the Eastern Ontario Development Fund from qualified businesses that are growing and creating jobs.
  • Sectors eligible for the fund include advanced manufacturing, processing, life sciences, information and communications technology, tourism and cultural industries.
  • Since 2008, the government has committed over $66 million in Eastern Ontario Development Funding, leveraging a total investment of more than $648 million. These investments have helped to create over 2,800 new jobs and retained more than 12,300 existing jobs in the region.


Find out if your business qualifies for the Eastern Ontario Development Fund.


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