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.
Applicants must be business and organizations in advanced manufacturing sectors, including:
Eligible businesses must:
Other Things to Note:
1. There are two application intake periods per year:
- Applications for the first intake are open from: February 1, 2023 – March 16, 2023;
- Applications for the first intake are open from : July 20, 2023 – August 31, 2023