The Yves Landry Foundation has some money to give away to some Northern manufacturers. A year ago, FedNor contributed $2 million to the foundation to help stimulate the Northern economy.
“We have given out just more than $1 million. So between now and December we have the remainder to give away and it is just taking too long,” said Karyn Brearley, executive director of the foundation. The program – achieving innovation and manufacturing excellence (AIME) – is designed for manufacturers who require training and education for their employees.
Up to $50,000 per company is available to foster training that will lead to advancements in innovation within the manufacturing sector in Northern Ontario. All projects for consideration must lead to new growth or growth in domestic or global export opportunities or create new or expanded global markets.
To be considered, the company must be in business for at least three consecutive years, and have at least seven employees.
“However, for Northern Ontario, we have looked at companies that have been slightly smaller than seven, and if they do some great business and they tell us their story and it looks really good, we are willing to look at slightly smaller companies, if they are on the tipping point of growing,” she said.
The foundation also looks at the financial health of the companies to ensure it is risk worthy.
“It is taxpayers’ money we are giving out so we do our due diligence to make sure the companies are viable,” Brearley said. “This isn’t startup money for someone starting a new business. This is about existing manufacturers and allowing them to grow.”
So far, 23 companies have taken part in AIME across the North and in communities such as Haileybury, Chelmsford, North Bay, Parry Sound, Temagami and Thunder Bay.
“We have had great diversity but we need more companies to take part,” she said.
AIME has supported projects as low as $1,000, such as sending a worker on training.
No project is considered too small. Most of the projects are improvements in productivity, such as bringing in new technology, or equipment and new processes that make the company more competitive, stable and profitable.
“It’s about processes being improved and doing something new, like putting in a new line or product and the companies need assistance,” Brearley said.
“We recognize that for manufacturers in Northern Ontario, not all the knowledge is in Ontario. So, the money can be used to go out of province or country. About 14 per cent of the participants have gone out of country. That knowledge is now coming back to Northern Ontario and improving their businesses.”
The foundation has an office at the Commerce Court Campus of Canadore College in North Bay and can be reached at 1-855-546-5296.
