It’s a good day for manufacturers in Ontario!
The government recently announced the re-opening of one of the most lucrative funding programs for manufacturers in Ontario.
The program supports Southern Ontario Manufacturers and Food Processors with up to $100,000 in funding. Its generous funding potential, along with its quick turnaround time (approximately 30 days!) makes it a very attractive program for manufacturers looking to conduct training.
Applicant Status & Potential Funding
First-time applicants who have never received AIME funding may be eligible for up to $100,000 with 50% shared costs. Applicants who have received funding, but more than 24 months ago, may be eligible for the second tier of funding; these second generation applications may be eligible for up to $100,000 with a shared contribution up to 25%.
Eligibility Criteria & Costs
Participants must meet the following criteria:
- Have between 10-1000 employees in southern Ontario;
- Have been continuously in business for at least three years (3 years);
- Must be able to demonstrate a solid financial footing over the three year period;
- Manufacturing facility or facilities in Southern Ontario
- Manufacture a specific product for sale in Ontario or elsewhere.
Eligible training costs include:
- Training on state-of-the-art innovation in technology, equipment, products, processes, business practices
- Training that will enable an increase in exports, develop new products/markets, reduce costs, reduce lead time, improve profitability
- Training participant wage costs are eligible to claim during the course of the training
- External trainer costs and training materials costs are eligible
Timeline and Deadlines
The training completion dates for this round of funding will be between Feb.29, 2020 to May 31, 2020. Any training completion dates before or after those dates will not be eligible for this round of funding. However, we do expect the program to have more funding available in 2020/2021 so if these training completion dates do not fit your clients’ timelines, we can advise on how to get onto the waiting list for the next round of funding.
To know more about our services and start the conversation on a diversified funding strategy for your projects…