Regional Development Program: Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream

By mmuise
Description:

The Advanced Manufacturing and Innovation Competitiveness (AMIC) Stream will provide financial support to advanced manufacturing companies with a focus on small and medium-sized enterprises across Ontario. It will provide investments in capital equipment, technology adoption and skills development.


Comments on Funding:

Funding is up to 15% of eligible project costs and will take the form of loans and grants.
Loans of up to 15% of funding to a maximum of $5 million, interest free during the project period (up to four years). Applicants who achieve their investment and job or upskilling targets may be forgiven up to 30% of the loan (to a maximum of $500,000).
Grants are available only for specific circumstances, up to 15% to a maximum:
- of $500,000 for small companies located in rural communities;
- of $1.5 million for strategic projects that are foreign direct investments or from companies competing against other jurisdictions or companies with significant reshoring projects.

Applicants are not allowed to combine (or stack) AMIC funding with funding from other provincial programs.

Deadline: Applications are closed. Stay tuned for future intake announcements.
Eligibility:

Applicants must be business and organizations in advanced manufacturing sectors, including:

  • aerospace;
  • automotive;
  • chemical;
  • information and communications technology (ict);
  • life sciences;
  • steel.

    Eligible businesses must:
  • have at least three years of operations/financial statements;
  • employ at least 10 people;
  • commit to creating at least five new jobs and/or upskilled current jobs;
  • invest at least $500,000 in their project;
  • be located in, or plan to locate in, a community in Ontario.
Application Steps:

Applicants must:

1. contact a provincial government advisor for help with their check list and application;

2. register for Transfer Payment Ontario;

3. submit an eligibility checklist. The project eligibility will be confirmed.

4. work with their advisor to complete and submit the application forms, along with the required information, once their eligibility is confirmed.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Nov. 2023:
1. Application opening: July 20, 2023 – September 14, 2023.
2. Registration on TPON and consulting with regional advisor regarding your application is advised at least two weeks in advance of the application deadline, August 29th, 2023.
3. Application assessment period (60 business days): September 19, 2023 – December 13, 2023.
4. Anticipated notification date: December 13, 2023.

Older:
1. There are two application intake periods per year:
a) Applications for the first intake are open from: February 1, 2023 – March 16, 2023;
b) Applications for the first intake are open from : July 20, 2023 – August 31, 2023

Updated: January 17, 2022

About the author
mmuise