Ontario government supporting advanced manufacturing efforts across the province
January 21, 2022 by Manufacturing AUTOMATION
The Ontario government announced the launch of its Advanced Manufacturing and Innovation Competitiveness (AMIC) program to help companies get the tools, technology and talent they need to grow, compete and innovate in an increasingly competitive global market.
The AMIC, a part of the 2021 Fall Economic Statement, is a new stream under the provincial government’s Regional Development Program (RDP).
The $40-million program will run for two years. It will offer support to advanced manufacturing businesses to invest in equipment, advanced technologies and skilled workforce to help them grow and stay competitive in the market. According to a statement released by Ontario, AMIC will aid in the creation and retention of jobs and also help in restoring essential supply chains.
Eligible businesses can now apply for the new program if they fulfill the following requirements:
- 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.
“Since day 1, our government has endeavoured 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.”
AMIC will support the advanced manufacturing sector in capital-intensive industries such as automotive, aerospace, life sciences, information technology, steel, and chemical by ensuring they have the necessary funds to invest in new technology and innovative equipment.
“Manufacturing is critical to Ontario’s prosperity; it provides high-quality, well-paying jobs and is an important contributor to strong economic growth in the province,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “The new Advanced Manufacturing and Innovation Competitiveness Stream under the Regional Development Program will contribute to long-term growth, productivity and competitiveness of Ontario’s manufacturing sector, which is undergoing significant change.”
The AMIC program will build on Ontario’s successful RDP. Launched in 2019, RDP helps eligible businesses, municipalities and economic development organizations create jobs and opportunities in Eastern and Southwestern Ontario.
“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.”