$40M provincial manufacturer funding can boost northern competitiveness

Manufacturers with plans to expand their technology and skilled workforce can now apply for a piece of a $40 million provincial funding program, as announced by economic development minister Vic Fedeli this week.

Dubbed the Advanced Manufacturing and Innovation Competitiveness program (AMIC), it gives eligible small-to-medium-sized businesses -- with at least 10 employees and upcoming projects costing at least $500,000 -- a loan or grant covering 15 per cent of the cost.

"(It's) to invest in equipment and skilled workers and adopt innovative technologies," said Fedeli, also MPP for Nipissing.

"Anything that'll help improve your competitiveness, support the growth in your company, create and, hopefully, add new jobs."

Fedeli said the funding can boost manufacturers in the automotive, aerospace, life sciences, communications technology, steel and chemical sectors.

Eligible businesses would need to fulfill targets, including job creation or retraining employees to update their skills.

The program is open to businesses across Ontario, though the Timmins Economic Development Corporation (TEDC) is looking to get northern manufacturers a piece of the pot.

"There's a lot of opportunity in manufacturing, for people to enhance what their current offerings are," said TEDC President Christy Marinig.

She said local businesses in the steel and chemical sectors would be well-positioned with this funding to accelerate their expansion projects, in order to capitalize on the number of mining projects coming to the Cochrane District.

The AMIC program has two rounds of applications. 

The deadline for applications this year is Feb. 10, with next year's application deadline yet to be announced.