Precision Machinery leverages Northern Development funds for growth and diversification
Precision Guide Machinery and Repair in Prince George has experienced remarkable growth over the past number of years. Since 2016, Northern Development has supported the growth of this small business through the approval of six unique projects, totaling $112,156 in funding through its Competitiveness Consulting Rebate and Northern Industries Innovation Fund (formerly known as the Forest Innovation Fund).
“The funding from Northern Development Initiative Trust has enabled us to grow our Research and Development department, which has been important to our overall success,” said Chiara Mann, office manager and R&D Facilitator with Precision Guide Machinery and Repair. “We have been able to grow our product lines and knowledge base while keeping jobs in Prince George.”
Incorporated in 2010, Precision Machinery has quickly established itself in the design, machining and fabrication industry and has grown to be responsive to the needs of industry. Projects have ranged from successfully becoming Complyworks certified for quality and environmental compliance to implementing proprietary techniques to automate control of a sawmill grinding machine.
“Investing in this diverse set of projects provides additional revenue sources for our company as regional mill operations slow during times of reduced timber supply,” Mann continued, “allowing us to keep expertise and revenues in the north while servicing the world.”
The projects undertaken by Precision Machinery have been diverse and focus on improving their team of engineers, draftsmen, Red Seal industrial mechanics, machinists and others through leadership training in 2017, implementing new project management software, and developing and testing a specialized die-casting machine.
“Supporting Northern B.C. businesses as they strive to invest in their employees, streamline procedures and develop innovative products is what Northern Development’s business programs seek to accomplish,” said Felicia Magee, director of business development with the Trust. “Having Precision Machinery successfully apply for funding multiple times demonstrates to the effectiveness of these programs.”
Northern Development offers a suite of programs designed specifically for Northern B.C. businesses engaged in specific industries within its service region.
The Northern Industries Innovation Fund provides up to $50,000 for small- and medium-sized businesses engaged in agriculture, aquaculture, energy, forestry, manufacturing, mining, oil and gas and the supply chain activities related to these sectors. The program aims to support the diversification and expansion of Northern B.C.’s economy as measured through increased business competitiveness, incremental revenue and job creation.
The Competitiveness Consulting Rebate provides up to $30,000 to small- and medium-sized businesses in the Trust’s service region. This program supports manufacturers, innovators, processors, and their first line suppliers as they seek ways to grow their business, implement world-class business practices and become more competitive in the global market.
