Federal Liberals promise $1 billion manufacturing fund

The federal Liberal party has announced that they will create a $1 billion Advanced Manufacturing Prosperity (AMP) Fund to support investments in manufacturing and R&D facilities if they form a government.

“I have met repeatedly with key stakeholders in the manufacturing sector — workers, businesses, premiers as well as environmental groups,” said Liberal Leader Stephane Dion at an event in Hamilton this week. “They all bring different viewpoints to the table, but there is a consensus on one thing: they all want to see Canada’s manufacturing sector become a world leader in green technologies.”

In order to be eligible for funding, manufacturers must leverage significant private investment and create jobs; attract significant secondary industries such as suppliers, services, and other support businesses; and help position Canada as a leader in the manufacture of green technologies and products.

Dion also said that Canada must shorten the time it takes for innovations to find their way to the marketplace, and the Liberal party plans to encourage investments in R&D.

According to Dion, a Liberal government would make the Science Research and Experimental Development (SR&ED) Tax Credit partially refundable.

“Innovation is essential to the survival of our industries, but it can be an expensive undertaking,” said Dion. “We want every company that puts money into R&D to be rewarded for innovating.”