March 11, 2019
Ottawa today announced $100 million of funding to support small- and medium- sized (SME) steel and aluminum manufacturers and users in all regions of the country.
“In the face of unjust and illegal U.S. 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,” said Navdeep Bains, Minister of Innovation, Science and Economic Development. “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.”
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.
“Small and medium-sized businesses (SMBs) in our steel and aluminum industries make important contributions to our economy and to our communities by creating good, middle-class jobs,” said Mary Ng, Minister of Small Business and Export Promotion. “Our government recognizes that SMBs are the backbone of our economy and that by investing in their success, we invest in the success of all Canadians.”