Toronto, Ontario — September 12, 2019 — Ontario’s auto suppliers can now tap into a $10-million provincial assistance program designed to digitize production, operate more efficiently and introduce a competitive edge to the industry.
Vic Fideli, minister of economic development, job creation and trade announced the program’s details Monday evening at the Canadian Association of Moldmakers’ annual meeting. The three-year Ontario Automotive Modernization Program (O-AMP) was unveiled in April. It gives government grants of up to $100,000 to small- and medium-sized automotive supply companies. The grants — which do not need to be repaid — are meant to help facilities either improve technological hardware on hand or assist in more sustainable manufacturing.
O-AMP funding will cover 50 percent of eligible product costs up to $100,000, with recipient companies contributing the remainder via their own resources. The province will offer $10-million in grants over the next three years.
According to a press release from Ontario, more than 100,000 people are employed in the auto industry, with two thirds of those jobs in the auto parts sector.
The deadline to apply for the program is October 18, 2019. Click here to apply.
