Ontario is positioned to become a leader in advanced marine technologies. Not only do Ontario-based companies have access to skilled employees, but our proximity to the Great Lakes region supports better product testing and commercialization opportunities. The government realizes this opportunity and has begun investing in marine technology companies.
On November 8, 2016, the Ontario government announced it would provide Allied Marine & Industrial Inc. with up to $462,874 in manufacturing grants. This funding will enable the company to relocate its machinery, assembly, and storage operations into a new state-of-the-art facility.
Allied Marine & Industrial Inc. will leverage these Ontario business grants from the Southwestern Ontario Development Fund (SWODF). SWODF grants can be used for a wide range of large-scale capital investment projects in Ontario, such as facility construction or relocation. Successful companies may be able to secure up to 10-15% of project costs to a maximum $1.5 million in Ontario government funding.
Ontario Business Grants Support Manufacturing Facility Expansion
Established in 1997, Allied Marine & Industrial Inc. has been a member of southwestern Ontario’s advanced manufacturing sector for nearly 20 years. The company provides cost-effective engineering and manufacturing solutions for land and marine-based technologies.
Ontario small business grants awarded to Allied Marine will help create new jobs, support innovative technology developments, and increase market competitiveness. Because of the Southwestern Ontario Development Fund, Allied Marine will be able to maintain 45 current jobs while adding an additional 16 positions.
Up to 462,874 in Ontario business grants will be used to construct Allied Marine’s new production facility in Port Colborne, Ontario. The plant, which is expected to cost a total of $4.6 million, will house the company’s tooling, fabrication, machining, and assembly and storage operations.
“Ontario is committed to strategic partnerships like this, which help drive economic growth and create jobs. We are pleased to support Allied Marine & Industrial in their growth plans, which will help them increase productivity, stay competitive and create good paying jobs for Ontario families.”
– Brad Duguid, Ontario Minister of Economic Development and Growth
Southwestern Ontario Business Grants for Manufacturers
The Southwestern Ontario Development Fund (SWODF) supports large-scale capital investments that generate new employment opportunities, boost manufacturing innovation, and promote industry competitiveness. This usually covers business expansion projects such as building facilities and adopting new technologies.
Ontario small and mid-sized enterprises (SMEs) may receive up to 10-15% of eligible project expenses, to a maximum of $1.5 in government grants.
Fuel Manufacturing Productivity: Apply for Ontario Business Grants
Advanced manufacturers in southwestern Ontario should apply for government grants and loans to support their innovative, productivity-boosting projects. SMEs can apply to drastically reduce the costs of infrastructure expansion, equipment purchasing and developing technology.
To discover if you’re eligible for SWODF or any other Canadian government funding program, contact Mentor Works. After letting you know if this is a good fit for your business, we can even offer assistance in preparing your application. This can improve your chances of funding success while reducing the overall time and effort required.