Ontario launches $40M program to help advanced manufacturing businesses improve equipment, advanced tech and skilled workforce
by CM Staff
AMIC aims to create and retain good jobs and address the need to restore the essential supply chains that will support economic recovery across the province.
TORONTO — On Jan. 17, the Ontario government launched the 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.
As part of the 2021 Fall Economic Statement, AMIC is a new stream of the Regional Development Program (RDP). The two-year, $40 million program will support advanced manufacturing businesses to invest in the equipment, advanced technologies and skilled workforce needed to improve competitiveness and growth. As Ontario continues to recover from the impacts of COVID-19, AMIC aims to create and retain good jobs and address the need to restore the essential supply chains that will support economic recovery across the province.
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.
“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.”
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.”
In 2019, Ontario launched the RDP to help 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.”