CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Ontario investing in Durham auto parts manufacturers to boost competitiveness

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The Ontario Automotive Modernization Program is a $22 million program to help small and medium-sized automotive parts suppliers adopt the tools, technologies and manufacturing practices needed to scale-up, modernize operations and increase competitiveness. PHOTO courtesy Okuma.

The Ontario government is helping 26 small and medium-sized automotive parts suppliers invest almost $9.6 million in new tools and technology to enhance their competitiveness.

As part of these investments, the province is providing a total of $3.5 million through the Ontario Automotive Modernization Program (O-AMP), an initiative to support local manufacturers and expand Ontario’s end-to-end automotive supply chain.

“As we continue to grow our automotive and manufacturing sectors, we want Ontario’s auto parts manufacturers to remain competitive both domestically and internationally,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “When we invest in these companies, the economic benefits reach well beyond local communities, creating highly skilled and good-paying jobs right across the province.”

Tool Die-Namics Inc., a Pickering-based tool and die manufacturer, is among the 26 companies to receive support. With $150,000 in O-AMP funding, the company will invest over $329,000 in state-of-the-art manufacturing equipment to increase the efficiency and productivity of their current operations, and to meet growing demand.

“Tool Die-Namics is committed to provide our industry with the best quality tooling possible to engineer and build,” said Robert Cake, President of Tool Die-Namics. “O-AMP gives us the feeling we, in Ontario, are a team and we are determined to succeed. Today we compete in a global marketplace and having the support of our provincial government provides the incentive to pursue business abroad.”

Launched in 2019, O-AMP is a $22 million program to help small and medium-sized automotive parts suppliers adopt the tools, technologies and manufacturing practices needed to scale-up, modernize operations and increase competitiveness. Companies can apply to receive up to 50 per cent of eligible project costs of up to $150,000. To date, Ontario has invested $17.8 million to support over 170 projects through the program, leveraging $45.7 million in new investments and helping create over 870 new jobs.

Over the last three years, Ontario has attracted over $27 billion in investments from global automakers, parts suppliers and manufacturers of electric vehicle batteries and battery materials.

Ontario’s auto supply chain comprises over 700 parts firms, over 500 tool, die and mold makers and over 400 connected and autonomous companies.

As part of the 2023 Ontario Budget, the government introduced the Ontario Made Manufacturing Investment Tax Credit, which provides a 10 per cent refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.

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