Supporting Canadian small- and medium-sized enterprise users of steel and aluminum
Canada’s steel and aluminum sectors are key contributors to the Canadian economy, providing well-paying jobs and key inputs for major industries.
As part of a heavily integrated North American supply chain, Canadian small- and medium-sized enterprise (SME) manufacturers that are significant users of steel and aluminum play an important role in transforming these inputs into finished or semi-finished products for the manufacturing, defense, aerospace, energy, automotive, and construction industries. However, escalating commodity prices and increasing financial and competitive pressures have significantly impacted SMEs operating within Canadian steel and aluminum supply chains.
In response, on March 11, 2019, the Government of Canada announced the launch of the Regional Economic Growth through Innovation Steel and Aluminum Initiative. This new Initiative will provide $100 million in non-repayable contributions to SMEs within Canadian steel and aluminum supply chains for investments in innovative projects that will enhance productivity and/or competitiveness. More specifically, the Regional Economic Growth through Innovation Steel and Aluminum Initiative will:
- Assist firms with high growth potential to scale up and expand;
- Support technology demonstration and the commercialization of new technologies;
- Encourage the early adoption or adaptation of leading-edge technologies and processes to improve productivity; and
- Increase businesses’ capacity to grow through market diversification and entry into global markets.
Contributions will range from $150,000 to $1 million, to support up to a maximum of 45 percent of eligible project costs.
- The $100 million will be distributed as follows based on the manufacturing sectors of the regions:
- $6.80 million for ACOA;
- $26.17million for CED;
- $39.04 million for FedDev Ontario;
- $3 million for FedNor; and
- $24.99 million for WD.
For more information on how to apply in each region, please visit:
- Atlantic Canada Opportunities Agency (ACOA)
- Canada Economic Development for Quebec Regions (CED)
- Canadian Northern Economic Development Agency (CanNor)
- Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
- Federal Economic Development Initiative for Northern Ontario (FedNor)
- Western Economic Diversification Canada (WD)
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