Brotech Precision CNC is a custom manufacturer of Computer Numeric Control (CNC) precision-machined metal components. Since 1995, the company has been a valued supplier to some of the world’s most innovative businesses in the aerospace, medical, military, and the energy industries.
The manufacturer was recently announced as recipients of Ontario government funding through the Southwestern Ontario Development Fund (SWODF). SWODF funding provides grants and loans to businesses who are growing their businesses and creating jobs within southwestern Ontario.
Brotech’s expansion project, which is valued at over $2.5 million, will assist them in adopting new, innovative technologies. Up to $250,000 in government investments will help Brotech compete in industries that require specialized high-performance metals.
Why Brotech Was Able to Secure SWODF Grants
The Southwestern Ontario Development Fund was established to encourage private sector investments and support sustainable, well-paying jobs in the region. Since its conception in 2012, SWODF has attracted more than $1.1 billion of investments and helped to create/sustain nearly 25,000 jobs.
Brotech’s project fit the focus of SWODF perfectly. Through the adoption of advanced technologies, Brotech anticipates that they will be able to increase sales by nearly 70% while creating 15 new jobs and sustaining 18 existing positions.
Ontario Government Funding for Small Business Expansion
Businesses purchasing new, innovative equipment in Ontario have a variety options to help finance the project. Some of them include:
Southwestern & Eastern Ontario Development Fund (SWODF/EODF)
The Southwestern Ontario Development Fund (SWODF) and the Eastern Ontario Development Fund (EODF) are government funding programs supported by FedDev Ontario. They offer businesses up to 15% of project expenses to a maximum $1.5 million in grants to invest in their Ontario-based operations. Manufacturing, food processing, and information and communications technology (ICT) are among the most highly prioritized industries.
CME SMART Green Grants
Available exclusively to manufacturers in Ontario, the CME SMART Green program provides grants for energy-efficient equipment and process improvements that increase productivity while reducing carbon emissions. Manufacturers may receive up to 50% of project expenses to a maximum $200,000 per facility. Manufacturers will be capped at a maximum of $500,000 in grants for upgrades to multiple facilities across Ontario.