On March 11, 2019, the Government of Canada announced the launch of the Regional Economic Growth through Innovation Steel and Aluminum Initiative. Delivered by regional development agencies (RDAs) across the country, this $100-million national initiative, will provide non-repayable contributions to Canadian, downstream, SME steel and aluminum users for investments in innovative projects that will enhance productivity and/or augment firm competitiveness. These investments are expected to maintain and create jobs as well as promote economic growth through adoption of innovative technologies and processes.
The objective of this Initiative is to help bolster the productivity and competitiveness of SMEs operating within the Canadian steel and aluminum supply chain through investments in innovative projects. These investments are expected to maintain and create jobs as well as promote economic growth through adoption of innovative technologies and processes.
More specifically, the Regional Economic Growth through Innovation Steel and Aluminum Initiative will:
- Assist firms with high growth potential to scale up and expand;
- Support technology demonstration and the commercialization of new technologies;
- Encourage the early adoption or adaptation of leading-edge technologies and processes to improve productivity; and/or
- Increase businesses’ capacity to grow.
I. Eligible Recipients
Applicants must meet the following eligibility criteria:
- 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); and
- Capable of demonstrating plans for projects pursuing productivity enhancements, and/or innovations to augment firm competiveness.
- A continuous intake of applications will be accepted, with priority given to applications received on or before April 8, 2019.
- Once the funds are fully allocated, applications will no longer be accepted.
- Multiple and concurrent project submissions from the same applicant are not permitted.
To learn more be sure to visit: http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/02489.html?OpenDocument#1
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