Archived — Backgrounder: Automatic Coating Limited
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Agency Funding Initiatives
FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has recently announced over $530 million in funding, available through the Southern Ontario Prosperity Initiatives:
- Investing in Business Innovation
- Investing in Business Growth and Productivity
- Investing in Commercialization Partnerships
- Investing in Regional Diversification
Canadian Manufacturers & Exporters
Canada's manufacturing sector has to deal with a number of economic challenges including the increasing globalization of markets and supply chains. All of these factors continue to have a significant impact on Canadian manufacturers' ability to compete in the marketplace.
On January 10, 2012, FedDev Ontario announced an investment of up to $18.9 million through the Prosperity Initiative to support the Canadian Manufacturers & Exporters' SMART Prosperity Now (SPN) Program. This Program is designed to allow manufacturers with an export focus to commercialize new technologies, enter new domestic and foreign markets, invest in sustainable and green technology, purchase new or upgraded equipment and technology, and implement efficiency improvements. SPN is now fully subscribed with a total of 283 projects which focus on both business assessment and productivity enhancement.
The Program builds on the success of the SMART Program, which was established to help small- and medium-sized manufacturers in Ontario improve their productivity through lean design/manufacturing, quality improvement, energy efficiency, IT best practices, and environmental impact reduction.
The CME SMART Program has been supported by FedDev Ontario through a total of three investments: the first in 2009 for $15.75 million through the Southern Ontario Development Program; and the second in 2011 for $4.2 million through the Prosperity Initiative; and the aforementioned $18.9 million through the Prosperity Initiative.
At $38.85 million, the CME represents the Agency's largest funding investment, which has leveraged an estimated $92 million. In total, more than 680 recipients have received support through FedDev Ontario's investment in the CME programs.
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