Canada announces CAD 100 million in funding to support steel and aluminum manufacturers

Monday, 11 March 2019 21:48:30 (GMT+3)   |   San Diego

Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development who is responsible for Canada's regional development agencies (RDA), announced today CAD 100 million of funding to support small- and medium- sized (SME) steel and aluminum manufacturers and users in all regions of the country.

Delivered by Regional Development Agencies (RDAs), the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative will provide targeted support to Canadian businesses within the steel, aluminum and manufacturing sectors. This initiative will provide SME steel and aluminum manufacturers and users with non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly-skilled jobs.

In a statement, the minister said, “Canada's steel and aluminum sector is an important contributor to our economy and to our manufacturing supply chains, providing thousands of Canadians with good, middle-class jobs. This program will provide SMEs with consistent support across all regions of Canada, while allowing for support to be tailored to fit and benefit regional needs.”

Bains added, “In the face of unjust and illegal US tariffs hurting businesses and workers on both sides of the border, our government is standing shoulder-to-shoulder with our hard-working steel and aluminum workers and users of their world-class products. Our investment to support small- and medium-sized producers and users across the country will help businesses innovate to drive productivity, scale up, and expand into new markets to create good middle-class jobs.”

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