Forgot username or password?  |  Create a CME account

Minister Goodyear announces new investments to help small- and medium-sized businesses in southern Ontario

Published on November 06, 2009

HAMILTON, ON - Businesses in Southern Ontario will have greater opportunities to expand and improve their operations thanks to two new investments worth over $30 million announced by the Honourable Gary Goodyear, Minister of State responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

"These two investments will create jobs and help local businesses and communities grow and diversify," said Minister Goodyear. "Our government is delivering on our commitment in the Economic Action Plan to stimulate the economy and support the people in Southern Ontario."

The funding includes a $15.75-million investment under the Southern Ontario Development Program for the Canadian Manufacturers & Exporters (CME) SMART program to fund approximately 300 projects that will help small- and medium-sized manufacturers increase their productivity and competitiveness in the global economy.

The CME SMART program provides up to 50 per cent of eligible project costs, to a maximum of $50,000 per project, and focuses on key areas such as lean design and manufacturing, quality improvement, energy efficiency, information technology best practices, and environmental impact reduction. For details on the CME SMART program, please see the backgrounder.

"This announcement could not have come at a more crucial time," says CME President & CEO Jayson Myers. "Companies must take the necessary steps to modernize and improve productivity despite the severe economic strains caused by the recession. The projects that will be funded by SMART will give companies the tools they need to remain competitive in this era of economic uncertainty."

A top-up of $15 million for the first application intake of the Southern Ontario Development Program, was also announced. On October 2, 2009, the Government of Canada committed $40 million to projects that can be completed by March 2010. Today's top-up brings the total amount of funding available for the first intake to $55 million. Applications will be accepted until December 1, 2009.

Overall funding for the SODP is $100 million in 2009-10. Other aspects of the program will be announced shortly.

For details regarding the intake process of the SODP, please see the backgrounder or visit the FedDev Ontario web site at www.southernontario.gc.ca.

The Southern Ontario Development Program was established to promote economic development, economic diversification, job creation and sustainable communities in Southern Ontario. The SODP is just one in a series of initiatives introduced in the Government of Canada's Economic Action Plan designed to address the short-term effects of the economic decline on communities across Canada, while preparing our communities for long-term growth.

For background information on the CME SMART Program, please click here.

For more information, contact:

Gary Toft
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599

Media Relations
Industry Canada
613-943-2505


This news release is available online at: www.southernontario.gc.ca and www.actionplan.gc.ca

Found in:

Ottawa Web Design

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan