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Ontario and APMA launch funding program for automotive parts manufacturers
September 13, 2019 by Manufacturing AUTOMATION
September 13, 2019 – A new program administered by the Ontario government and the Automotive Parts Manufacturers’ Association (APMA) will allow small- to –medium-sized automotive supply companies apply to receive funding for projects.
Under the Ontario Automotive Modernization Program (O-AMP), manufacturing companies apply to receive up to $100,000 to match investments for projects that will take less than two years to complete.
Projects may be based on new technology adoption using advanced manufacturing hardware, software or training, such as implementing logistical systems or production tracking. Projects can also be based on adopting Lean manufacturing techniques to increase operational efficiency and competitiveness, such as hiring a Lean consultant to help with implementation.
To be eligible, companies must be for-profit with less than 500 employees globally and less than $1 billion in global revenues. They also must have at least two years of financial statements and have at least 50 per cent of their sales revenue in the auto supply sector.
O-AMP builds off the Automotive Supplier Competitiveness Improvement Program (ASCIP), which promotes success in export markets for small- and medium-sized automotive supply businesses.
