The StrongerBC Accelerating Manufacturing Grants program has released $10 million in funding for 43 new projects in the province’s manufacturing sector.
The grants are targeted at small to midsized manufacturing firms, to help them “scale up, develop and commercialize new technologies or products, improve market access and identify operational improvements.”
Recipients represent a wide range of BC manufacturing sectors, including technology, food processing, shipbuilding, aerospace and forestry.
In its announcement of the funding, the provincial government singled out a joint project between RaceRocks 3D and Iris Dynamics, both based in Victoria. The companies will be able to boost manufacturing capacity by more than 10 times for a new type of motion system based on a proprietary magnetic linear motor design.
“We have long identified the lack of investment in equipment and advanced manufacturing as a barrier to the growth of our industry,” said Andrew Wynn-Williams, divisional vice president for B.C., Canadian Manufacturers and Exporters. “We are delighted that British Columbia’s recovery program has included a number of initiatives to address this challenge.”
The province selected PriceWaterhouseCoopers through a competitive process to deliver the program.