Ontario's New Manufacturing Initiative

Ontario Economic Development and Trade Minister Joseph Cordiano announced a new $500 million repayable loan program today. Ontario's Advanced Manufacturing Investment Strategy will work with industry partners to develop and put in place leading technologies and innovations to keep them globally competitive.

"We value our manufacturing sector in Ontario, and know that it is our province's largest job creator. With this strategy we are investing in our highly skilled workforce by helping manufacturers stay at the cutting edge of technology," Cordiano said. "That's how our industries will stay globally competitive and jobs for our Ontario workers will be secure in the future."

The Advanced Manufacturing Investment Strategy is designed to attract investment by helping companies across the province take immediate steps to develop and use leading technologies and innovations that will keep them globally competitive. Government support will focus on manufacturing processes and technologies, materials innovations, innovative waste management technologies and energy efficiencies.

Read more about the Ontario initiative here. Similar programs aimed at manufacturing, in particular the automotive sector have been launched in the past month in Michigan and Ohio. The question is: Will any of them work, or are they just postponing the inevitable?