AMIC helps high growth advanced manufacturing companies:

  • adopt/adapt innovative technologies that support productivity, improve competitiveness
  • invest in new equipment to scale up and grow their business increase exports to global markets, and reshore jobs and production
  • accelerate growth through new enhanced processes and more efficient and cost-effective ways of working

Criteria

Type of business and Sector

Your firm must be a for-profit business (legal entity) registered to carry out business in Ontario and your project must be in the advanced manufacturing sector. For great clarity, advanced manufacturing includes, but is not limited to, automotive, aerospace, life sciences, information and communications technology, steel and chemical manufacturing.

Employees

Your firm must have at least 10 full-time equivalent (FTE) employees at the time of the application. All employees must be issued a T4.

A full-time equivalent (FTE) is calculated as 2,000 hours or more of work during each fiscal year.

Operating experience

Your firm must have a minimum of three years of substantive operating experience supported by three years of financial statements reviewed by a third party (for example, audited or review engagement).

If your financial statements are not audited or have not had a review engagement, contact your provincial government advisor. Companies may not submit internally prepared financial documents. Financial statements must meet GAAP standards.

Companies should also have a track record of sales of a product or service and be at a stage where they are expanding their product or service offerings.

Minimum eligible investment

Applicants must have a minimum commitment of $500,000 in eligible project costs.

Job creation and job upskilling

Companies must commit to creating a minimum number of five net new jobs and/or upskilled current jobs by the end of the project. This can be a combined total. For example, a company could create two new jobs and upskill 3 existing jobs for a total of five new and upskilled positions.

Please see Appendix B: Job Creation Definitions for more information.

Project start date

The project start date cannot be earlier than the closing date for the application period (for example, the closing date for the first application period is February 10, 2022 therefore the earliest permissible start date for projects submitted in that application period is February 10, 2022).

Length of project

Projects must be between three and four years in length to allow time for companies to meet investment and job creation and retention targets.

The project spending period can be less than 3 years but not exceed 48 months.

Compliance

Your firm must be compliant with all applicable laws and not owing any fees, levies or taxes to Her Majesty the Queen in right of Ontario or her agencies.

Stacking

Stacking with other provincial sources of financing for the project is not permitted except for projects receiving support from tax credits and company-wide programs (for example, electricity support programs) and supports provided through the program’s complementary supports and services.

Maximum funding from federal and provincial sources is 50%. Businesses need to demonstrate that all financing will be in place, to the satisfaction of the Government of Ontario, at the start of the project.

Previous funding

If your business has previously been approved for a project under the Regional Development Program, the project must have been successfully completed before a new project will be considered.

Applicants with active loan agreements may apply if project/company is in good standing and at least 50% of loan has been repaid. Companies related to a current recipient (through a parent or ownership) are not eligible to apply.