Ontario government offering loans for innovative projects
The Ontario Ministry of Economic Development and Trade has announced that it is accepting proposals for the fourth ...
The Ontario Ministry of Economic Development and Trade has announced that it is accepting proposals for the fourth round of its Advanced Manufacturing Investment Strategy (AMIS).
The AMIS program provides interest free loans for up to five years to support investments in technology and innovation.
“Our government always receives a great response from manufacturers across the province who want to participate in this program,” said Minister of Economic Development and Trade Sandra Pupatello in a press release. “Now even more companies can take advantage of what AMIS has to offer: access to critical funds that increase productivity and competitiveness. I encourage every qualified business to apply.”
The government lowered the project threshold for AMIS loan applications to either 100 jobs created/retained or $25 million invested in the 2007 budget. The move is expected to allow a greater number of small- and medium-sized companies to participate.
AMIS provides 10 per cent of the total eligible costs for approved projects, up to a maximum of $10 million. Eligible costs include R&D, equipment and machinery, materials, construction/leasehold improvements, labour, training, and overhead.
The deadline to submit proposals is August 30, 2007. For more information and the application package, click here.