Being in manufacturing today means that cutting costs, finding easier solutions for processes, and meeting the increasing demands of customers are ongoing challenges. The Federal and Provincial governments have introduced funding programs to assist businesses sustain Canadian manufacturing, innovation, and employment.
Programs of interest
Scientific Research & Experimental Development (SR&ED): A tax credit that provides funding for activities focused around innovation, new products or processes, and helping increase capital.
Export Market Access (EMA): Assists SMEs become export ready and help gain/increase access to international export markets.
Canadian Manufacturers & Exporters Association SMART Prosperity Now: The objective of this program is to help Ontario manufacturers promote growth by transitioning to more sustainable business models.
Yves Landry Foundation Achieving Innovation and Marketing Excellence (AIME): A pre-approval, training-focused funding program to improve Southern Ontario's manufacturing sector's competitive standing within the global market.
Canada Small Business Financing Program (CSBFP): A loan program that partners with your financial institution to make their financing available to your small business.
Apprenticeship Training Tax Credit (ATTC): Available to employers who hire and train apprentices in certain skilled trades. The maximum credit for each apprenticeship is $10,000 per year per employee to a maximum of $40,000.
The Co-operative Education Tax Credit (CETC): Available to employers who hire students enrolled in a co-operative education program at a University or College in Ontario. A maximum credit of $3,000 per student per each work placement.
Ontario Power Authority SaveOnEnergy Programs (OPA): Reduce energy consumption and save money on facility energy bills.
Ontario Exporters Fund (OEF): Assists SMEs become export ready and help them gain/increase access to international export markets.
NRC Industrial Research Assistance Programs (IRAP): Provides funding to qualified firms and their innovative research and development related projects.