Exciting Opportunity for Ontario Food Manufacturers!
The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream is a government funding program launched by the Ontario government to support advanced manufacturing companies, with a focus on small and medium-sized enterprises (SMEs) across Ontario. Here’s an overview of the program:
Program Objectives
The AMIC Stream aims to:
- Provide financial support for investments in capital equipment, technology adoption, and skills development.
- Create jobs and build talent in the advanced manufacturing sector.
- Attract and encourage private sector investment.
- Help companies adopt technologies to improve their competitiveness.
- Encourage innovation, collaboration, and cluster development.
Funding Details
- Loans: Up to 15% of eligible project costs, with a maximum of $5 million. These loans are interest-free during the project period
- Loan Forgiveness: Up to 30% of the loan (maximum $500,000) may be forgiven if investment and job targets are met
- Grants: Available for small companies (less than 100 employees) in rural locations or qualifying special projects, with a maximum of $500,000
- Special Projects: Grants up to $1.5 million may be available for strategic foreign direct investment project
Eligibility
To be eligible, businesses must:
- Be in the advanced manufacturing sector, including aerospace, automotive, chemical, information and communications technology (ICT), life sciences, steel, and agri-food
- Have at least three years of operations and financial statement
- Employ a minimum of 10 people
- Commit to creating at least five new jobs or upskilling current jobs
- Invest a minimum of $500,000 in the project
- Be located in, or planning to relocate to, Ontario
Application Process
- The program offers multiple intakes per year
- The current intake period is from January 16 to April 24, 202
- Applicants are encouraged to contact a provincial government advisor before applying
- Applications are submitted through the Transfer Payment Ontario (TPON) system
- This program presents a significant opportunity for Ontario food manufacturers to enhance their competitiveness and drive innovation in the advanced manufacturing sector.
Are you ready to take your manufacturing capabilities to the next level? This could be the boost your company needs to stay competitive and innovative! Reach out to bdooley@cultureadvisorygroup.com to learn more and obtain help with your grant funding submissions.
🚀 Exciting Opportunity for Ontario Food Manufacturers! 🍽️The Ontario government just launched the Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream – a game-changing funding program that could transform your business! 💡
🔑 Key Highlights:
- Up to $5M in interest-free loans
- Potential loan forgiveness of $500,000
- Supports technology & equipment investments
- Minimum project investment: $500,000
- Creates opportunities for job growth
✅ Who Can Apply?
- Advanced manufacturing companies
- Minimum 10 employees
- 3+ years of operational history
- Committed to creating/upskilling jobs
⏰ Application Window:
January 16 – April 24, 2025💡Pro Tip: Connect with a provincial advisor BEFORE applying to maximize your chances!
Are you ready to take your manufacturing capabilities to the next level? This could be the boost your company needs to stay competitive and innovative! Reach out to bdooley@cultureadvisorygroup.com to learn more and obtain help with your grant funding submissions.
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