Supplied by Sault MP Terry Sheehan…
March 14, 2019 – Sault Ste. Marie, Ontario
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
(SMEs) 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.” 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.
Eligible Applicants:
· 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 competitiveness.
Eligible Activities:
· 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
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
• 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.