Area advanced manufacturers can now apply for funding through a new provincial program.
Vic Fedeli, Nipissing MPP and Ontario’s Minister of Economic Development, Job Creation and Trade says there’s $40 million available through the Advanced Manufacturing and Innovation Competitiveness (AMIC) fund.
“Today, there are 160,000 more people working than there were pre-pandemic. It’s an amazing statistic of what’s really happening in Ontario,” he says. “AMIC will support the creation of even more jobs and help companies bring good-paying manufacturing jobs back to Ontario.”
He says funds are available for companies to invest in the equipment, advanced technologies and skilled workforce needed to improve competitiveness and growth.
“We want a minimum of ten employees, we want three or four more years of financials, this will be a minimum of $500,000 in eligible project costs. This is designed with all of Ontario in mind and will help bring back jobs into the north as well,” Fedeli says.
Rocco Rossi, President and CEO of the Ontario Chamber of Commerce, says they need to look beyond COVID-19 and increase competitiveness.
He’s encouraging members of the business group to start preparing their applications.
“We fully expect it to be over-subscribed because this is so crucial. So many of our members, despite the resurgence in employment, have had a very difficult time,” he says.
Various industries such as automotive, aerospace, life sciences, information technology, steel, and chemical can get involved.
Written by Richard Coffin