SUPPORTING CANADIAN SMALL AND MEDIUM-SIZED ENTERPRISEUSERS OF STEEL AND ALUMINUM
Canada’s steel and aluminum sectors are key contributors to the Canadian economy, providing major industries with well-paying jobs and key inputs.
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, defence, aerospace, energy, automotive and construction industries. However, escalating commodity prices and increasing financial and competitive pressures have had a significant impact on SMEs operating within Canadian steel and aluminum supply chains.
In response, the Government of Canada launched the Regional Economic Growth Through Innovation Steel and Aluminum Initiative on March 11, 2019. This new initiative will provide $100 million in non-repayable contributions to SMEs within Canadian steel and aluminum supply chains for 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 in scaling up and expanding;
- support technology demonstration and the commercialization of new technologies;
- encourage the early adoption of, or adaptation to, leading-edge technologies and processes to improve productivity; and
- increase the capacity of businesses 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% of eligible project costs. Priority will be given to projects submitted before April 8, 2019.
The $100 million will be distributed as follows, based on the manufacturing sectors of the regions:
- $6.80 million for the Atlantic Canada Opportunities Agency
- $26.17 million for Canada Economic Development for Quebec Regions
- $39.04 million for the Federal Economic Development Agency for Southern Ontario
- $3 million for the Federal Economic Development Initiative for Northern Ontario
- $24.99 million for Western Economic Diversification Canada
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)
Regional Communications Manager
Western Economic Diversification Canada
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