$40 M for advanced manufacturing in Ontario
- March 23, 2016
The Ontario government has announced it plans to invest $40 million in advanced manufacturing inititatives in Ontario. The funding is part of a broader provincial $400 million Business Growth Initiative aimed at supporting Ontario's shift towards a high growth innovation economy.
The $40 million investment in advanced manufacturing initiatives includes a five-year $35 million investment in the Advanced Manufacturing Consortium and a 10-year $5 million investment to establish the Trillium Network for Advanced Manufacturing. Both programs will provide support to traditional manufacturers to help them transform into more innovative and productive companies, the provincical government noted in a statement.
Katheen Wynne, Premier of Ontario announced the funding at the Canadian Manufacturers & Exporters (CME) Industrie 2030 summit on March 22.
"Our government continues to make the necessary investments to strengthen Ontario’s reputation as a leader in the global knowledge economy and create the highly skilled jobs of tomorrow. By driving innovation in advanced manufacturing, we are reinforcing our position as one of the best places in the world to do business — now and in the future," says Kathleen Wynne, Ontario's Premier.
The government has also created the Highly Skilled Workforce Strategy Expert Panel to help Ontario adapt to the demands of a dynamic, knowledge-based economy. The panel will assess how well the workforce is positioned to meet the needs of Ontario's economy and will recommend an integrated approach for the government to bridge education, training and skills development with the demands of an evolving economic landscape.
Supporting the manufacturing sector is part of the government's economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario's history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.