The $500m strategy provides up to 10% eligible project costs and the repayable loans are interest-free for up to the first five years.
The Advanced Manufacturing Investment Strategy is designed to attract investment by helping the province’s companies to develop and use leading technologies and innovations that will to keep them globally competitive. Government support will focus on manufacturing processes and technologies, material innovations, innovative waste management technologies and energy efficiencies.
Ontario economic development and trade minister Joseph Cordiano has invited proposals. Up to three calls for proposals will be made each year for five years, depending on the number of successful projects.
Meanwhile, the provincial government is investing $6m in Nemak of Canada Corporation’s project to install a more innovative engine block process in its Ontario facility. The company plans to expand its plant.