Toronto, Ontario — Tuesday saw another round of investments distributed to some Ontario-based manufacturers as part of the Ontario Automotive Modernization Program, a campaign that seeks to strengthen the province’s supply chain.
The Ontario government has earmarked more than $5.5 million in funding for a number of businesses operating in the automotive industry to help spur efficiency and quality control within a supply chain that has proven its volatility over the past two years.
Forty-four businesses are expected to receive grants from the government, including Windsor, Ont.’s Nominal Machine Tool who were given $142,500 to go towards a total $307,000 investment into new production technologies for the company.
Nominal Machine Tool operates with a tool and die/machining division, as well as a stamping and assemblies division and automation, robotics and integration division in service of various sectors of the automotive industry. The company expects this investment to create seven jobs for them.
President of the Auto Parts Manufacturers Association, Flavio Volpe voiced enthusiasm for the program which he says gives Canadian businesses a leg-up on the world stage.
“Technology is migrating from the car to the factory. It is no longer enough to simply make the most advanced goods. Ontario companies must make them in the most advanced factories in the world to compete,” said Volpe.
“The O-AMP program uniquely targets that challenge, and we are proud to partner with the province to deliver it.”
According to the government’s press release, Ontario has received more than $12 billion in investments from companies operating in the automotive industry over the past 18 months.
