Ottawa invests $100M in steel and aluminum SMEs across the country

Ottawa will invest $100 million to support small- and medium- sized steel and aluminum manufacturers and users (SMEs) across the country. The funding comes through the Regional Economic Growth through Innovation Steel and Aluminum Initiative and will be delivered by Regional Development Agencies (RDAs). The initiative is expected to support approximately 300 SMEs and will provide recipients with non-repayable contributions for projects to enhance productivity, commercialize or adopt new technologies, enter global markets, and create more skilled jobs. Contributions will range from $150,000 to $1 million, to support up to a maximum of 45 percent of eligible project costs. The $100 million will be distributed to the five RDAs as follows, based on the manufacturing sectors of the regions: