Manufacturers strive to enhance and improve capital equipment used in manufacturing processes. To boost competition and productivity in the industry, the Federal Economic Development Agency for Northern Ontario launched the Targeted Manufacturing Initiative.
The principal objective of this program is to facilitate a modernized and competitive manufacturing sector in Northern Ontario. With this program, small and medium sized Canadian businesses will enhance manufacturing capabilities, build more efficient production facilities, and increased export sales and profitability. Most importantly, the program will help the economy in Northern Ontario grow.
Targeted Manufacturing Initiative
Type of Funding available
The Targeted Manufacturing Initiative can contribute up to 33% of eligible capital costs and up to 50% of eligible non-capital costs in repayable assistance.
Firms who have the following:
- Current commercial manufacturing located in Northern Ontario
- 500 or fewer employees
- A plan for future growth
- Eligible projects aim to improve and modernize manufacturing capabilities and production facilities, leading to increased productivity, competitiveness, and export potential.
Applicants will need to provide:
- A work plan detailing the productivity improvement or the equipment to be addressed, including milestones/timelines.
- Evidence of capacity to implement the project, including financial statements for the past three years.
- Details on how the proposed project will benefit business operations.
Applications will be accepted on a continuous basis.