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

New Ontario program supports advanced manufacturing

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The Ontario government has launched a $40 million Advanced Manufacturing and Innovation Competitiveness (AMIC) program to help job shops “get the tools, technology and talent they need to grow, compete and innovate.”

The two-year program is aimed at supporting advanced manufacturing businesses to invest in the equipment, advanced technologies and skilled workforce needed to improve competitiveness and growth.

Beginning today, eligible businesses can apply for the new program. Eligibility requirements include:

  • minimum of 10 employees
  • three or more years of financial statements, and
  • minimum of $500,000 in eligible project costs.

The first round of applications will be open until February 10, 2022.

“Manufacturing is the cornerstone of Ontario’s economy. It drives economic recovery and prosperity throughout Ontario and across Canada. This government has made it clear that it wants our sector to be global leaders in innovation,” said Mathew Wilson, Senior Vice President, Policy, Government Relations & Ontario Division, Canadian Manufacturers & Exporters (CME). “To accomplish this, CME has been clear that the government must help companies invest in new technologies, new processes, and their people. For Ontario’s manufacturers, this fund will be a valuable tool to support their investments, to help them scale up, and to improve their competitiveness.”

AMIC is a new stream of the Regional Development Program (RDP). In 2019, Ontario launched the RDP to help eligible businesses, municipalities and economic development organizations create jobs and opportunities in Eastern and Southwestern Ontario. Since the launch of the RDP, the Province has committed to investing $60 million in 61 projects, supporting investments totalling more than $470 million. These investments are helping to create over 1,200 jobs.

“Since Day 1, our government has endeavored to make Ontario a more attractive investment destination, but we know there is more work to do,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “With increased international competition for investment, our government wants to help Ontario’s advanced manufacturers continue to thrive and be global leaders in innovation. This program will create the right conditions for our businesses and job creators to invest, grow and attract investment all across Ontario.”

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