Niagara honoured with a 2024 Deal of the Year Impact Award for Asahi Kasei project

January 30, 2025

Niagara Region’s Economic Development team was honoured with a prestigious 2024 Deal of the Year Impact Award by Business Facilities magazine for its work on the Asahi Kasei investment project. This recognition underscores the significant economic impact and the collaborative efforts that have made the project a game-changer for the Niagara region.

The Asahi Kasei project, focused on the establishment of an innovative electric vehicle battery separator production facility in Port Colborne, represents a major milestone in Niagara’s economic development. This project, with a Phase One estimated capital investment of $1.56 billion and the creation of over 300 permanent jobs, is poised to drive long-term economic prosperity and create lasting benefits for the region’s workforce and communities. The project aligns with Niagara’s broader strategy to build a diverse and sustainable economic base, positioning the region for continued growth across multiple industries.

The Deal of the Year awards recognize significant corporate relocations, expansions, or retention projects based on their capital investment, job creation, and innovation. The Impact Awards, part of the Deal of the Year category, specifically highlight projects making a lasting impact on their communities. Niagara Economic Development is honoured to be recognized for its efforts in facilitating such an impactful project, with the Asahi Kasei initiative seen as a key driver of long-term economic growth.

Key partners in the Asahi Kasei project include Invest in Canada, Invest Ontario, the City of Port Colborne, and The BMI Group, whose combined efforts were instrumental in making this investment a reality.

This recognition highlights the ongoing collective efforts of Niagara Economic Development and its partners, all dedicated to fostering a competitive, forward-thinking business environment in Niagara. Through these strong partnerships, Niagara is building a solid foundation for a sustainable future, further solidifying its position as a leading hub for innovation and investment.

Quotes:

“It is a privilege for Niagara to receive a 2024 Deal of the Year Impact Award for the Asahi Kasei project. This recognition not only reflects the collaborative spirit and dedication of our partners, but also underscores the strategic leadership of Niagara’s municipal councils in fostering innovation and economic growth. The support of our local councils was instrumental in advancing this project, and we are proud to have them champion the development of a facility that will provide meaningful job opportunities, enhance our manufacturing capacity, and contribute to the long-term prosperity of the region. Thanks to the collective effort of all our partners, including Invest in Canada, Invest Ontario, and the City of Port Colborne, Niagara is securing a bright, sustainable future as a leader in advanced manufacturing and clean technology.” – Jim Bradley, Regional Chair, Niagara Region

“We are incredibly proud to see Niagara recognized with a 2024 Deal of the Year Impact Award for the Asahi Kasei project. This achievement is a direct result of the hard work and dedication of our economic development team, as well as our strong partnerships with organizations like Invest in Canada, Invest Ontario, and the City of Port Colborne. Niagara is one of the best places globally for investment, and this project further solidifies our position as a leader in innovation and advanced manufacturing.” – George Spezza, Director of Economic Development, Niagara Region

Media contact

Janine Tessmer, APR
Communications Consultant
Niagara Region
Phone: 905-401-4882
janine.tessmer@niagararegion.ca