Government of Canada investment to support growth, innovation and competitiveness in Toronto
News release
July 17, 2026 – Toronto, Ontario
FedDev Ontario investment supports nine projects to help boost productivity and unlock new opportunities for growth
Toronto is home to one of Canada’s most diverse and dynamic economies, bringing together world-class researchers, entrepreneurs, manufacturers and innovators. As global markets become increasingly competitive, the Government of Canada remains committed to investing in businesses and organizations—helping them boost productivity, drive innovation, and create good, sustainable jobs.
Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), alongside Doly Begum, Member of Parliament for Scarborough Southwest, announced an investment of over $20 million to support nine businesses and organizations in the Greater Toronto Area, including A.F.C. Toronto City, Accuenergy Canada, Beachman, Blade Air, Corwin Metal Products, REMAP Network, Sheridan College, Toronto Global, and the University of Toronto.
This funding will help businesses such as Accuenergy Canada, Beachman, Blade Air, Corwin Metal Products, and REMAP Network to adopt advanced technologies, including Artificial Intelligence, to expand capacity and increase their competitiveness across the different sectors. Additionally, this funding will support businesses like Toronto Global, Sheridan College and the University of Toronto attract and anchor high-growth companies in the region, as well as help A.F.C. Toronto City to advance the growth, visibility, and long-term sustainability of women’s professional soccer in southern Ontario.
For information on the individual projects, refer to the backgrounder.
As part of this announcement, Accuenergy, a Toronto-based manufacturer of power and energy metering solutions, is receiving an investment to expand production capacity and launch new building automation solutions. The company is undertaking this $10 million project, with FedDev Ontario supporting approximately $2.6 million. The project will enhance Accuenergy’s manufacturing efficiency, increase their product offerings, and expand their global reach for precision monitoring and innovative industrial solutions.
The Government of Canada is committed to supporting Canadian businesses and organizations seize new opportunities for growth, accelerate innovation, and contribute to a more competitive and resilient economy.
Quotes
“Our local businesses are developing innovative solutions, creating jobs and driving economic growth. Through today’s investment, including support for Accuenergy, we are helping nine businesses and organizations in Toronto, Scarborough and North York to strengthen their operations, embrace innovation and unlock new opportunities. This is how we build a stronger economy and ensure Canadian companies and organizations can compete and succeed.”
- The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Scarborough is home to innovative companies like Accuenergy that are helping drive economic growth and strengthen our region’s reputation as a hub for innovation. I am proud to see a local company continue to grow and expand its reach in global markets.”
- Doly Begum, Member of Parliament for Scarborough Southwest
“Today electricity demand is climbing everywhere you look - data centres, EV charging, electrified buildings - and our power meters, sub-metering systems, and current transformers are doing that measurement in over 150 countries. Our Canadian team has grown from 37 people in 2020 to more than 200 today. FedDev Ontario's investment helps us move faster on a $10 million expansion of our Scarborough facility, creating 30 permanent jobs and growing Canadian exports. This project keeps that growth, and that manufacturing capability, in Canada.”
- Howard Wang, President, Accuenergy Canada
Quick facts
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Toronto is home to nearly 110,000 businesses and a workforce of 1.8 million people, with small- and medium-sized businesses with fewer than100 employees making up the vast majority.
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Through the Regional Tariff Response Initiative (RTRI), the Government of Canada delivering $1.95 billion to help businesses boost productivity, lower costs, strengthen supply chain resilience, and open doors to new markets, enhancing overall competitiveness across all sectors, including steel, aluminum, copper, automotive, food security and forestry.
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The Government of Canada’s National AI Strategy, AI for All, includes a $500-million national investment to expand and enhance the Regional Artificial Intelligence Initiative, delivered by Canada’s regional development agencies. The program is currently not accepting applications.
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Incorporated in 2006, Toronto-based Accuenergy specializes in designing, manufacturing, and supporting advanced power and energy measurement technologies for commercial, industrial, and utility settings, including high-precision power meters, current transformers, data acquisition gateways, and cloud-based energy monitoring platforms.
Associated links
Contacts
Leela Polushin
Press Secretary
Office of the Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
Leela.Polushin@ised-isde.gc.ca
343-543-5391
FedDev Ontario Media Relations:
media@feddevontario.gc.ca
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