The Advanced Manufacturing Fund (AMF) is a $200 million program that is run through FedDev. The program aims to subsidize manufacturers in southern Ontario by investing between $10-20 million for eligible expenditures in the form of a repayable grant. AMF promotes continued long-term growth, productivity, and competitiveness of Ontario’s manufacturing sector by investing in innovative technologies that will be commercially ready within 5 years.
Eligible firms are for-profit companies who engage in either manufacturing, R&D or both in Ontario. The program will cover costs associated with prototyping a new product, implementing new and innovative technology and work undertaken to improve products, materials or processes.
The Intake periods for applications are:
- December 9, 2013- October 1, 2014
- January 1, 2015- October 1, 2015
Eastern Ontario companies that are looking to undertake an expansion and development project should consider applying for the Eastern Ontario Development Fund (EODF). EODF will provide non-repayable funding of up to 15% of eligible project costs to a maximum of $1.5 million. This fund supports new investment in local regions, the creation of new jobs, and the promotion of innovation and collaboration.
The sectors eligible for EODF funding are advanced manufacturing, life sciences, processing (primary and secondary), tourism, information and communication technology, and cultural industries. The eligibility criteria stipulates that the company:
- Needs to have at least 10 employees
- Is looking to create 10 new jobs
- Will invest in a project of at least $500,000,
- Will invest in a project that extends over a two to four year period.
NorthBridge Consultants has experience with the EODF application process and will provide the necessary guidance to assist with an application. Our team of business analysts and technical writers can assist with eligibility requirements, project positioning, the preparation of the business plan, the preparation of financial projections, in-person meetings with government officials, and reporting requirements after application submission.
The goal of the Northern Ontario Development Program (NODP) is to assist manufacturers to realize operational efficiencies, to grow sales, and to boost productivity while fostering new job creation. The program will provide coverage up to 30% of capital costs and up to 50% of non-capital costs to businesses with fewer than 500 employees. Eligible costs include:
- Leasehold Improvements
- Machinery, equipment, technology
- Laboratory modifications, developmental needs
Non Capital Costs
- Professional and technical services (engineering/technology implementation)
- Securing intellectual property (patents/licensing)
- Marketing costs
Since its inception in 2006, FedNor has approved more than $263.50 million in support of 1,322 projects through NODP to benefit Northern Ontario’s economy. Contact NorthBridge today to find out more about NODP.
Growing Forward 2 (GF2) is a five year $417 million Ontario funding program that supports agriculture producers, processors, and companies in collaboration. The Project Implementation stream funds capital expenditures and implementation costs. Year One of the program is coming to a close and the deadline to submit applications under the Implementation stream is January 30, 2014. The Capacity Building stream, which covers pre-project planning and related expenses, is open on a continuous basis over the program timeline.
However, new intake periods have been added for Year Two of the program, which starts April 1, 2014. Agriculture companies that are starting an Implementation project this year and expect to incur expenses after April 1st can submit applications in any of the new intake periods. The new application period starts February 4, 2014 and ends May 1, 2014.
Excellence in Manufacturing Consortium, Canada’s largest manufacturing consortium, is hosting a Strategic Interest Group event on January the 23rd, 2014 (9am) at Russell Industries Corporation. Jeff Mitobe, from NorthBridge Consultants, will be providing general details about the SR&ED program as well as recent Canada Revenue Agency changes that have come into effect as of January 2014. NorthBridge will also be providing a general review of government funding programs that are applicable to manufacturing companies.
Date January 23, 2014
Russell Industries Corporation
20 Grote Street
St. Catherines, ON