Northern Ontario manufacturers will have access to funding under a new FedNor program designed to help them become more innovative, productive and competitive in the global marketplace.
Under the Targeted Manufacturing Initiative, Northern Ontario manufacturers with fewer than 500 employees will be eligible to apply for FedNor funding to assess their need for productivity improvements; help with new equipment purchases, including digital hardware and software; equipment installation and related training costs; as well as process/quality control improvements and certifications.
The goal of the initiative is to help manufacturers realize operational efficiencies and boost their productivity, leading to sales growth, increased exports and job creation.
“Our government recognizes that small and medium-sized businesses are the lifeblood of the Canadian economy,” said FedNor Minister Greg Rickford. “To help improve and modernize their manufacturing operations, Northern Ontario companies can now apply through FedNor’s Targeted Manufacturing Initiative for the financing they need to undertake operational assessments and to upgrade capital equipment used in their manufacturing process to strengthen their growth in a changing global economy.”
The Targeted Manufacturing Initiative (TMI) will be provided through FedNor’s Northern Ontario Development Program, which supports projects that strengthen community economic development, enhance business development and growth, and facilitate innovation throughout the region.