FedDev Ontario Awards $7.7M to Six Manufacturing Businesses
The FedDev Ontario funding program has announced a combined $7.7 million repayable investment to boost manufacturing for six businesses located in southwestern Ontario. The investment aims to enhance local production, encourage innovation, and meet the growing demand for Canadian-made products.
“When we invest in a business’ potential, we invest in a strong future for our country. The six businesses receiving support are producing cutting-edge Canadian-made products and embracing next-generation innovations to build a stronger, more competitive future.”
– Filomena Tassi, Minister of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
The six recipients receiving funding are Edge Automation Inc., MTO Metal Products Ltd., New-Form Tools Ltd., Roden Manufacturing, Tradeline Products Inc. and UE Enclosures. They were selected on the basis that their projects will expand their company’s capabilities, adopt advanced technologies to align with Canadian-made objectives, strengthen Canadian presence in foreign countries, and ultimately contribute positively to internal and external economic goals.
Southwestern Ontario Manufacturing Projects
The following summarizes three of the selected southwestern Ontario manufacturing businesses which were recently awarded FedDev Ontario funding. The funding awarded emphasizes Canada’s stated commitment to strengthening supply chains and manufacturing products made locally.
Edge Automation Inc.: With a $1,184,050 repayable investment from FedDev Ontario, this London, Ontario manufacturer seeks to build a unique robotics manufacturing facility to combat the growing demand for automated solutions in the manufacturing sector. The company further seeks to increase production and increase sales into the U.S. market.
MTO Metal Products Ltd.: With $1,077,486 in funding support, this Woodstock, Ontario manufacturer aims to increase its capabilities with the innovation of new and advanced equipment. As a result, they hope to meet the increasing demand for industrial electrification, including support for Canada’s construction industry.
Tradeline Products Inc.: With a $1,000,000 investment, this London, Ontario manufacturer plans to expand its manufacturing capabilities and address the immediate needs of customers in the automotive and heavy equipment sectors and pursuing external growth opportunities for metal fabricating businesses.
“This [Southwestern Ontario] region has a strong foundation in manufacturing and this [FedDev Ontario] investment is helping these six businesses to continue strengthening supply chains across southwestern Ontario. Together, we are taking the necessary steps to help our businesses thrive and compete on a global stage.”
– Arielle Kayabaga, Member of Parliament for London West
FedDev Ontario Funding Support for Innovation
FedDev Ontario has invested over $885 million since 2015 to support over 24,800 jobs and over 400 manufacturing projects across southern Ontario. Support for projects such as clean technology manufacturing advancements advance the goal of helping Canada as a country reach net-zero emissions goals to combat the ongoing and alerting climate crisis.
Eligible applicants can receive interest-free and unconditionally repayable funding from FedDev Ontario on amounts between $125,000 up to $10 million for support on projects of up to 50% of eligible costs. Contact our team to learn more.
The program itself offers a variety of sub-programs that can be tailored to accommodate a business’ specific innovation initiatives. Businesses located in southern Ontario are required to submit their applications directly to FedDev Ontario, so that the agency can align a targeted project with the most applicable sub-program. Support on funding applications can be crucial in obtaining the best return on investment so that projects align with the agency’s overall goals.
