The Government of Canada has announced $4,156,410 in funding for four projects in Manitoba.
The goal is to supporting businesses as they continue operations during the COVID-19 pandemic, increase productivity, find new markets, and create opportunities for Manitobans.
“Strong regional economies are essential for Canada’s success and sustainability. Our regional development agencies are there to help businesses and innovators grow, succeed, and create good middle-class jobs for Canadians,” says says Mélanie Joly, Minister of Economic Development.
The money comes from several federal programs aimed at boosting regional small and medium-sized businesses including:
The Business Scale-up and Productivity (BSP), program which supports high-growth businesses that are scaling up and producing innovative goods, services, or technologies.
The Regional Innovation Ecosystems (RIE) program stream, which nurtures inclusive regional ecosystems that support business needs and fosters an entrepreneurial environment conducive to innovation, growth, and competitiveness.
The Regional Relief and Recovery Fund (RRRF), which is part of Canada’s COVID-19 Economic Response Plan, assists businesses and organizations across Canada to mitigate financial pressures caused by the pandemic.
Diemo Machine Works Inc. will receive $1,520,000 through the Business Scale-up and Productivity program to integrate advanced technologies that enhance production efficiencies and boost manufacturing capacity.
Keystone Granite, Inc. will see $1,168,500 through the same program to increase stone fabrication capacity within a new production facility.
Manitoba Institute of Trades and Technology will receive $1,305,529 through the Regional Innovation Ecosystems program for the Institute to establish a skills development and training initiative in cyber security.
Micro Traffic Inc. will receive $162,381 through the Regional Relief and Recovery Fund to continue operations during COVID-19 pandemic.
The government says these investments are expected to result in increased production capacity, training 85 highly qualified personnel, and creating 46 jobs.