The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is partnering with Canadian Manufacturers & Exporters (CME) to help southern Ontario’s manufacturers adopt advanced technologies, enhance productivity and expand global competitiveness.
The announcement was made yesterday by Gary Goodyear, Minister of State (Federal Economic Development Agency of Southern Ontario) at a summit on Advanced Manufacturing Summit, co-hosted by McMaster University and CME. Goodyear discussed the importance of advanced manufacturing to Canada’s economy and announced up to $20-million for the CME to deliver a new program called SMART Advanced Technologies for Global Growth.
The CME program will be launched on December 1, 2014, and will provide funding for southern Ontario manufacturers who are exporting, planning to export, or selling into a supply chain, to conduct technology assessments and adopt advanced technologies. These types of technologies, such as robotics, 3D printing and automated materials handling, help to reduce manufacturers’ production costs and expand their production capabilities. This enables businesses to become more competitive and strengthens their ability to participate in global supply chains.
This investment is through the Government of Canada’s Investing in Business Growth and Productivity initiative, which is aimed at helping established businesses to expand their operations, invest in productivity improvements and compete globally.
• More than 32,000 manufacturing establishments exist in southern Ontario and contribute significantly to local economies.
• Through its new program, CME expects that more than 1,000 new manufacturing jobs will be created in southern Ontario and 2,500 jobs will be maintained.
• FedDev Ontario’s investment in CME is expected to leverage between $18 and $51 million from southern Ontario manufacturers.
• Since 2009, FedDev Ontario has invested more than $38 million in CME to deliver its SMART-branded programming in southern Ontario. This has supported more than 730 projects, which created more than 5,400 jobs and maintained more than 11,000.