The Advanced Manufacturing and Innovation Competitiveness (AMIC) program offers financial support to advanced manufacturing companies, especially small and medium-sized enterprises across Ontario.
Funding Amount:
- Loan: 15% to a maximum of $5 million; interest-free for up to 4 years. Grant: 30% of the 15% loan, up to $500K, may be forgiven if targets are met.
- Rural Ontario: Grants of 15% to a maximum of $500,000 for companies with less than 100 employees.
- Foreign Direct Investment: Up to $1,500,000 in grants for strategic projects.
Region: Ontario
Eligible Applicants: Businesses located in Ontario that meet the following criteria:
- Minimum of 3 years of operations and financial statements.
- At least 10 employees.
- Creation of 5+ new jobs or upskilling of 5+ current jobs.
- Minimum project investment of $500K.
Application Timeline:
Intake Opens: July 29th, 2024
Application Deadline: September 26th, 2024
Eligible Projects:
- Capital equipment
- Technology adoption
- Upskilling: talent and training
- Expansion, new products, new markets
For more information and to start your application process, please reach out to me.