ONTARIO GOVERNMENT OPENS CALL FOR PROPOSALS FOR
ADVANCED MANUFACTURING INVESTMENT STRATEGY.
Strategy Boosts Innovation And Creates Jobs In Ontario.
July 24, 2007 (Press Release) --
ONTARIO GOVERNMENT OPENS CALL FOR PROPOSALS FOR
ADVANCED MANUFACTURING INVESTMENT STRATEGY
Strategy Boosts Innovation And Creates Jobs In Ontario
TORONTO, Ontario — The Ontario Government is accepting proposals for the fourth round of its Advanced Manufacturing Investment Strategy (AMIS), Minister of Economic Development and Trade Sandra Pupatello announced.
"Our government always receives a great response from manufacturers across the province who want to participate in this program," Pupatello said. "Now even more companies can take advantage of what AMIS has to offer: access to critical funds that increase productivity and competitiveness. I encourage every qualified business to apply."
The $500-million AMIS program provides repayable loans interest free, for up to five years, to support investments in technology and innovation. The innovative projects announced to date under this initiative will generate nearly $400 million in new investments and support the creation or retention of about 3,000 jobs. In the 2007 budget, the Ontario government lowered the project threshold for AMIS loan applications to either 100 jobs created/retained or $25 million invested to allow more small and medium-sized companies to participate.
The submission deadline for proposals is August 30, 2007. For eligibility requirements and an application package visit www.ontariocanada.com (click on the "Programs and Services" link).
AMIS is part of the government's overall plan for jobs and prosperity that includes investments in public infrastructure, postsecondary education, stable energy supply, research and innovation and key economic sectors.
Successful projects to date include:
Skyjack Inc., Guelph (May 14, 2007) - Creation of a Centre of Excellence to facilitate industrial research and development, prototyping, testing and commercialization of new aerial work platforms and materials handling equipment. A loan of $2.48 million supports a total project investment of $24.79 million.
Roxul Inc., Milton (March 15, 2007) - Plant expansion and development of new commercial, industrial and residential insulation products that use recycled scrap material from the steel and construction industries. A loan of $10 million supports a total project investment of $103.7 million.
Koolatron Corporation, Brantford (March 7, 2007) - Development of new products, including a large mobile cooler and cordless mosquito trap, using energy-efficient thermoelectric power. A loan of $2.34 million supports a total investment of $23.4 million.
Flakeboard Company, Sault Ste. Marie (March 1, 2007) - Development of new manufacturing processes and commercial applications for wood-alternative materials used in kitchen cabinets and furniture. A loan of $1.6 million supports a total investment of $16.0 million.
FAG Aerospace Inc., Stratford (February 20, 2007) - Research and development into improving the manufacture of precision bearings for the aerospace industry. A loan of $1.78 million supports a total investment of $17.8 million.
Diamond Aircraft Industries, London (June 23, 2006) - Development of a single-engine, five-seat jet aircraft. A loan of $10 million supports a total investment of $106.4 million.
Procter & Gamble Inc., Brockville (June 23, 2006) - Development of a new generation of quick-cleaning homecare products. A loan of $3 million supports a total investment of $30 million.
"Innovative companies like these fuel local economies and create high value jobs for hard working Ontarians," Pupatello said. "It's our goal to help emulate the success of these manufacturers across all sectors over and over again, and generate greater opportunities for more people province wide."
This is just one more example of how, working together, Ontarians have achieved results for the economy. Other job creation initiatives include:
• A new $650-million Next Generation Jobs Fund that will leverage investments in green technologies that help to reduce greenhouse gas emissions and improve environmental sustainability
• The Ontario Automotive Investment Strategy that has leveraged more than $7 billion in new investments and anchored about 7,000 high-value jobs
• Building east-west partnerships to help Ontario manufacturers tap into opportunities flowing from Alberta's oil sands, which are expected to generate projects worth more than $100 billion by 2020.
For more information, contact:
Ray Lancashire, Media Relations, Invest Ontario
Ministry of Economic Development and Trade
900 Bay Street, 5th Floor, Hearst Block, Toronto, Ontario M7A 2E1
Tel: (416) 326-1608
Fax : (416) 314-4589
E-mail: ray.lancashire@ontario.ca
For France :
Christine Arnal – Iris Conseil
Tel : +33 1 45 44 04 21
E-mail : c.arnal@iris-conseil.net
ADVANCED MANUFACTURING INVESTMENT STRATEGY
Strategy Boosts Innovation And Creates Jobs In Ontario
TORONTO, Ontario — The Ontario Government is accepting proposals for the fourth round of its Advanced Manufacturing Investment Strategy (AMIS), Minister of Economic Development and Trade Sandra Pupatello announced.
"Our government always receives a great response from manufacturers across the province who want to participate in this program," Pupatello said. "Now even more companies can take advantage of what AMIS has to offer: access to critical funds that increase productivity and competitiveness. I encourage every qualified business to apply."
The $500-million AMIS program provides repayable loans interest free, for up to five years, to support investments in technology and innovation. The innovative projects announced to date under this initiative will generate nearly $400 million in new investments and support the creation or retention of about 3,000 jobs. In the 2007 budget, the Ontario government lowered the project threshold for AMIS loan applications to either 100 jobs created/retained or $25 million invested to allow more small and medium-sized companies to participate.
The submission deadline for proposals is August 30, 2007. For eligibility requirements and an application package visit www.ontariocanada.com (click on the "Programs and Services" link).
AMIS is part of the government's overall plan for jobs and prosperity that includes investments in public infrastructure, postsecondary education, stable energy supply, research and innovation and key economic sectors.
Successful projects to date include:
Skyjack Inc., Guelph (May 14, 2007) - Creation of a Centre of Excellence to facilitate industrial research and development, prototyping, testing and commercialization of new aerial work platforms and materials handling equipment. A loan of $2.48 million supports a total project investment of $24.79 million.
Roxul Inc., Milton (March 15, 2007) - Plant expansion and development of new commercial, industrial and residential insulation products that use recycled scrap material from the steel and construction industries. A loan of $10 million supports a total project investment of $103.7 million.
Koolatron Corporation, Brantford (March 7, 2007) - Development of new products, including a large mobile cooler and cordless mosquito trap, using energy-efficient thermoelectric power. A loan of $2.34 million supports a total investment of $23.4 million.
Flakeboard Company, Sault Ste. Marie (March 1, 2007) - Development of new manufacturing processes and commercial applications for wood-alternative materials used in kitchen cabinets and furniture. A loan of $1.6 million supports a total investment of $16.0 million.
FAG Aerospace Inc., Stratford (February 20, 2007) - Research and development into improving the manufacture of precision bearings for the aerospace industry. A loan of $1.78 million supports a total investment of $17.8 million.
Diamond Aircraft Industries, London (June 23, 2006) - Development of a single-engine, five-seat jet aircraft. A loan of $10 million supports a total investment of $106.4 million.
Procter & Gamble Inc., Brockville (June 23, 2006) - Development of a new generation of quick-cleaning homecare products. A loan of $3 million supports a total investment of $30 million.
"Innovative companies like these fuel local economies and create high value jobs for hard working Ontarians," Pupatello said. "It's our goal to help emulate the success of these manufacturers across all sectors over and over again, and generate greater opportunities for more people province wide."
This is just one more example of how, working together, Ontarians have achieved results for the economy. Other job creation initiatives include:
• A new $650-million Next Generation Jobs Fund that will leverage investments in green technologies that help to reduce greenhouse gas emissions and improve environmental sustainability
• The Ontario Automotive Investment Strategy that has leveraged more than $7 billion in new investments and anchored about 7,000 high-value jobs
• Building east-west partnerships to help Ontario manufacturers tap into opportunities flowing from Alberta's oil sands, which are expected to generate projects worth more than $100 billion by 2020.
For more information, contact:
Ray Lancashire, Media Relations, Invest Ontario
Ministry of Economic Development and Trade
900 Bay Street, 5th Floor, Hearst Block, Toronto, Ontario M7A 2E1
Tel: (416) 326-1608
Fax : (416) 314-4589
E-mail: ray.lancashire@ontario.ca
For France :
Christine Arnal – Iris Conseil
Tel : +33 1 45 44 04 21
E-mail : c.arnal@iris-conseil.net
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