Are you an Ontario-based small or medium-sized enterprise (SME) in the advanced manufacturing sector? Are you looking to enhance your competitive edge? The Advanced Manufacturing and Innovation Competitiveness (AMIC) stream, part of Ontario’s Regional Development Program, offers valuable funding opportunities to help you achieve your goals.
The AMIC stream supports medium-sized and smaller companies in the advanced manufacturing sector aiming to invest in technology, equipment, reshoring manufacturing, or skills enhancement. This funding can be accessed through loans or grants, depending on your company’s size and location.
· Loans: Up to 15% of eligible costs, with a maximum of $5 million. These loans are interest-free during the project period, and 30% (up to $500,000) may be forgiven if targets are met.
· Grants: Available for small companies (less than 100 full-time employees) in rural locations or qualifying special projects, with a maximum of $500,000. In some cases, grants up to $1.5 million may be available.
To qualify for the AMIC stream, your company must:
· Be in the advanced manufacturing sector
· Have at least three years of operations and financial statements
· Employ at least 10 people
· Commit to creating at least five new jobs or upskilling current jobs
· Invest a minimum of $500,000 in the project
· Be in, or planning to locate to, a community in Ontario
The application window is open until September 26, 2024. It is recommended to contact your regional advisor at least two weeks before applying to strengthen your application.
Register to attend a virtual webinar on September 5, 2024 to learn more about the program.
If you have questions or want to get connected with a regional advisor, contact our team. For more information and to complete the eligibility self-assessment tool, visit Ontario AMIC.
AMIC is a program of the Government of Ontario.
Click on the image(s) below to expand.
