Count us among those saying congratulations to Oliver-Paipoonge’s latest business success.
Although it took much longer than planned, on Tuesday Global Sticks shipped its first load of popsicle sticks, perhaps setting a precedent in the process.
The company, which originally operated out of China, made a bold move and transferred its operations overseas to Northwestern Ontario, a positive sign for an economy decimated by disappointment in recent years.
The decision, combined with Global?Sticks joining forces with Stormax, means up to 145 well-paying jobs for people in the Thunder?Bay area.
These are jobs that until recently had gone to underpaid workers in?Asia.?It goes to show that Canada, and Northwestern Ontario in particular, can compete in the global marketplace.
Yes, the province chipped in about $5 million to the project, but it’s a solid investment that should reap them dividends for years to come.
The sad news in all of this is the difficulty the company had securing financing.
Lending institution after lending institution turned them down, until they convinced two, including a local credit union, to take a chance. If the region is going to recover, we need more risk-takers to ensure it happens.