OTTAWA, Canada – Economic Development and Trade Minister Joseph Cordiano has announced a new $500 million repayable loan program. Ontario’s Advanced Manufacturing Investment Strategy will work with industry partners to develop and put in place leading technologies and innovations to keep them globally competitive.
“We value our manufacturing sector in Ontario, and know that it is our province’s largest job creator. With this strategy we are investing in our highly skilled workforce by helping manufacturers stay at the cutting edge of technology,” Cordiano said.
“That’s how our industries will stay globally competitive and jobs for our Ontario workers will be secure in the future.”
The Advanced Manufacturing Investment Strategy is designed to attract investment by helping companies across the province take immediate steps to develop and use leading technologies and innovations that will keep them globally competitive. Government support will focus on manufacturing processes and technologies, materials innovations, innovative waste management technologies and energy efficiencies. The repayable loans are interest-free for up to the first five years. The $500 million strategy provides up to 10 per cent of eligible project costs.
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