Federal government promises $1 billion to manufacturing sector
As part of the Liberal government's election campaign, Human Resources Minister Joe Volpe has pledged to spend $1 b...
As part of the Liberal government’s election campaign, Human Resources Minister Joe Volpe has pledged to spend $1 billion on Canada’s manufacturing industries over the next five years, with half of that amount earmarked for the automotive sector.
Newspaper reports say that Ford of Canada will receive $100 million from this program to help refurbish its Oakville, ON, plant. The financial support is considered critical to the future of the Oakville plant, which is being considered by Ford’s U.S. parent for a possible conversion to a flexible manufacturing facility.
The Toronto Star reports that General Motors of Canada Ltd. may also receive some of this auto sector funding to renovate its Oshawa, ON facility.
Federal officials told the Star that to be eligible for funding, companies would have to do more R&D in Canada, and meet environmental and training commitments.