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New SMART Funding For Ontario Manufacturers

By Bob Peters
January 13, 2012

CME SMART Prosperity NowCanadian Manufacturers & Exporters (CME) has secured new funding through FedDev Ontario to implement the next phase of the SMART program, which was originally launched in 2008.

The CME SMART Prosperity Now initiative will receive $18.9 million to assist manufacturers in Southern and Eastern Ontario (including Cornwall and S. D. &G.)  strengthen their competitiveness and access new global business opportunities.

“As Canada’s leading trade and industry association, we are pleased to partner with FedDev Ontario to bolster the global competitiveness of Ontario companies,” said Jayson Myers, President & CEO of CME. “SMART Prosperity Now will equip companies the needed tools to become more successful in both domestic and international markets.”

Manufacturers that are currently exporting, planning to export, or selling into an export supply chain, are eligible to apply for funding to conduct productivity assessments and to undertake a variety of productivity improvement projects. Productivity assessments will be eligible for funding up to 50 per cent of eligible costs to a maximum contribution of $5,000. Productivity enhancement projects, meanwhile, may qualify for funding up to 33 per cent of eligible costs to a maximum contribution of $75,000.

"We expect to begin accepting applications in early February 2012," said Ian Howcroft, Vice President, CME Ontario.

To help navigate this program, CME is organizing a series of informative workshops that are scheduled to begin in early February.

The program was formally announced on January 10, 2012 in the Niagara region by The Honorable Rob Nicholson, Minister of Justice and Attorney General of Canada, and Jayson Myers, President and CEO of Canadian Manufacturers & Exporters.

“Our Government’s top priority remains completing the economic recovery,” said Minister Nicholson. “It is through these strategic investments that the Harper Government is working to ensure that businesses in Niagara and southern Ontario can continue to grow, creating high-value jobs and long-term economic prosperity.”

About CME SMART Prosperity Now

CME SMART Prosperity Now is about fostering the long term growth for small to medium size businesses. Ontario manufacturers must promote growth by transitioning to a more sustainable business model through enhancing productivity, integrating new and innovative technologies to products and/or processes that include alternative energy and clean technology considerations for future prosperity and global export opportunities. To be eligible for SMART Prosperity Now funding, eligible recipients MUST be exporters or planning to export.

For more information, please call the CME SMART hotline at 1-877-913-4263 or visit their website at http://www.cme-smart.ca/prosperity-now/.

About FedDev Ontario

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region’s strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region’s businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.

 

Category: Business