On March 11, 2019, the Government of Canada announced the launch of the Regional Economic Growth through Innovation Steel and Aluminum Initiative. This Canadawide, $100-million program is designed to assist small and medium-sized enterprises (SMEs) in strengthening their productivity and competitiveness. In Northern Ontario, the Steel and Aluminum Initiative will be administered by FedNor.
“What I was hearing from SME’s speaking to me locally and at committee meetings, is that there was a need for further support for our manufacturer’s. I am pleased that we have taken further actions of support.” Terry Sheehan, MP for Sault Ste. Marie
Companies who use steel or aluminium can apply for non-repayable contributions ranging from $150,000 to $1 million for investments in innovative projects that will create and maintain jobs, as well as promote economic growth through adoption of innovative technologies and processes. Deadline: Applications will be accepted on a continuous basis until all funding has been fully allocated. Note: Priority will be given to complete applications received from March 11, 2019 to April 8, 2019.
- Businesses such as: partnerships, social enterprises, incorporated companies, corporations or co-operatives, or an Indigenous organization such as Indigenous/First Nation/Métis Settlement owned businesses, and all other types of enterprises;
- Employ between 10 to 499 individuals on a full-time basis in Canada; · Intensive users of steel or aluminum (i.e., steel and/or aluminum expenditures are equal to or greater than 20 percent of total input costs); and
- Capable of demonstrating plans for projects pursuing productivity enhancements, and/or innovations to augment firm competitiveness.
- Productivity Improvement: acquiring, adapting, adopting new technologies, and/or processes; process re-engineering; improving manufacturing capacity.
- Business Scale-Up: market development/expansion; diagnostics; adopting best management practices, processes, and systems; business opportunity development.
- Technology Commercialization: late stage product development geared toward market diversification and growth, such as technology showcasing and technology demonstration.
Please visit the FedNor website for full program and application details or contact 1-877-333-6673.