TERRY SHEEHAN, MP FOR SAULT STE. MARIE
On March 11, 2019, the Government of Canada announced the launch of the Regional Economic Growth through Innovation Steel and Aluminum Initiative. This Canadawide, $100-million program is designed to assist small and medium-sized enterprises in strengthening their productivity and competitiveness.
In Northern Ontario, the Steel and Aluminum Initiative will be administered by FedNor.
“What I was hearing from SME’s speaking to me locally and at committee meetings, is that there was a need for further support for our manufacturer’s. I am pleased that we have taken further actions of support,” said Terry Sheehan, MP for Sault Ste. Marie
Companies who use steel or aluminium can apply for non-repayable contributions ranging from $150,000 to $1 million for investments in innovative projects that will create and maintain jobs, as well as promote economic growth through adoption of innovative technologies and processes.
Deadline: Applications will be accepted on a continuous basis until all funding has been fully allocated. Note: Priority will be given to complete applications received from March 11, 2019 to April 8, 2019.
- Businesses such as: partnerships, social enterprises, incorporated companies, corporations or co-operatives, or an Indigenous organization such as Indigenous/First Nation/Métis Settlement owned businesses, and all other types of enterprises
- Employ between 10 to 499 individuals on a full-time basis in Canada
- Intensive users of steel or aluminum (i.e., steel and/or aluminum expenditures are equal to or greater than 20 percent of total input costs)
- Capable of demonstrating plans for projects pursuing productivity enhancements, and/or innovations to augment firm competitiveness
- Productivity Improvement: acquiring, adapting, adopting new technologies, and/or processes; process re-engineering; improving manufacturing capacity
- Business Scale-Up: market development/expansion; diagnostics; adopting best management practices, processes, and systems; business opportunity development
- Technology Commercialization: late stage product development geared toward market diversification and growth, such as technology showcasing and technology demonstration
Please visit the FedNor website for full program and application details or contact 1-877-333-6673.
“I encourage manufacturers and industry businesses to review the funding guidelines and apply if eligible.” Sheehan continued, “this program is designed to assist small and medium-sized enterprises (SMEs) in strengthening their productivity and competitiveness.”
Additional background information:
- Support and investments from the Government of Canada in the steel industry during this illegal 232 tariff situation with the U.S.
- Recently announced $90,000,000 in support for Algoma Steel. This investment will help create and maintain jobs, as well as support pensioners in Sault Ste. Marie
- Made available up to $2 billion to defend and protect our Canadian workers and businesses in steel and aluminum industries
- $1.7 billion through Export Development Corporation and Business Development Bank to provide financing to help Small Medium Sized businesses
- $250 million in new funding through Strategic Innovation Fund to bolster the competitiveness of Canadian manufacturers
- $50 million to help companies diversify their exports and take advantage of new trade agreements such as Comprehensive Economic and Trade Agreement (CETA) and Comprehensive Progressive For Trans-Pacific Trade Partnership (CPTTP)
- Implemented one of the strongest anti-dumping regimes in the world • Implemented counter trade action of $16.6 billion on imports of steel, aluminum and other products from the United States