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Skyrocketing hydro rates are forcing many Ontario manufacturers to close, lay off employees or move south of the border.

Hydro rates have increased so dramatically under Ontario’s Liberal government, that the province’s once-cheap electricity prices are now the highest in the country. As a consequence, officials from American states are wooing Ontario businesses.

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And it’s working.

“Our move is already underway,” said Peter Gossmann, vice president and general manager of Plasticap, a producer of caps for food companies, medical firms and other customers.

The company has 40 employees in Richmond Hill and is looking to expand with another 60 employees — only not in Ontario.

“There could have been 60 more jobs here and 150 in three years,” said Gossmann, who will be setting up a new shop in Ohio to excape the 38% increase in the company’s hydro costs since January.

“If the Liberals win the next election and things don’t change, we may close here (in Richmond Hill). The province is at a tipping point. There is an impending disaster. People have to make the move or they won’t survive. I know we can’t keep absorbing this.”