$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.
CTVNews.ca Top Stories
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Ex-tabloid publisher testifies he scooped up possibly damaging tales to shield his old friend Trump
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
Here's why provinces aren't following Saskatchewan's lead on the carbon tax home heating fight
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams, Jayden Daniels and Drake Maye make it four NFL drafts with quarterbacks going 1-3
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.