An Oldcastle company is receiving $1 million in federal funding that will contribute to creating 60 new skilled jobs.

Navdeep Bains, Minister of Innovation, Science and Economic Development, made the announcement at Lakeside Plastics Inc. Wednesday morning.

"To get to the cars of the future, we have to start today,” says Bains. “Our government is supporting Canada’s strong and vibrant automotive sector and the middle-class Canadians who employ it.”

“It is essential to the Canadian economy and will continue to make Canada a global centre for talent, innovation and technological advancements. We’re creating safer, more environmentally-friendly vehicles – that’s good for all Canadians.”

It’s part of a $41-million investment to advance automotive technology at 11 companies in Ontario, Quebec and B.C. that will support more than 2,600 jobs.

The funding will support advancements in automotive technologies to develop safer vehicles that are more fuel-efficient and environmentally friendly.

This investment is made through the Strategic Innovation Fund, a new program to attract and support high-quality business investments across all sectors of the economy.