Ottawa announces over $4.9 million in funding for 10 steel and aluminum companies across British Columbia.
The funding is being provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March of this year.
“The small and medium-sized businesses in our steel and aluminum industries are important contributors to the economic vitality of communities across the country,” says Mary Ng, Minister of Small Business and Export Promotion. “By investing in their success, we are investing in the success of all Canadians.”
Delivered by Canada’s regional development agencies, the funding provides targeted support to Canadian small and medium-sized businesses in the steel, aluminum, and manufacturing sectors through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly skilled jobs.
With this funding, these companies will design new products, open new facilities, and install advanced manufacturing equipment, thereby creating approximately 97 jobs in local economies.
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