NEWMARKET, ONTARIO--(Marketwired - Feb. 9, 2015) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

To discuss the importance of supporting the manufacturing sector to drive Canada's economy forward, FedDev Ontario Minister of State Gary Goodyear and Canadian Manufacturers & Exporters (CME) Vice President of National Policy Mathew Wilson today hosted a manufacturing roundtable in Newmarket.

Joined by Newmarket-Aurora Member of Parliament Lois Brown, Minister Goodyear and Mr. Wilson toured Palcam Technologies Ltd., one of North America's leading precision components manufacturers that works primarily in the automotive and aerospace sectors. In 2013, the company received a contribution of $75,000 from CME's SMART Prosperity Now program, supported by FedDev Ontario, to purchase new equipment. This project enabled them to improve the level of automation in the manufacturing of die cast tooling components. Since 2013, Palcam has invested more than $4 million in new advanced manufacturing technologies and nearly doubled its workforce.

Following the tour, Minister Goodyear and Mr. Wilson co-hosted a roundtable with representatives from local manufacturing firms to discuss challenges and opportunities for manufacturing in Ontario.

Earlier in the day, Minister Goodyear, along with MP Lois Brown, visited BionX Canada Inc., a manufacturer of electric drive systems for bicycles, and toured Gum Products International Inc., a manufacturer of food additives, where they announced a FedDev Ontario investment of nearly $1 million.

In November, FedDev Ontario announced renewed investments of almost $30 million in CME and the Yves Landry Foundation for two funding programs that opened to manufacturers in December.

The Government of Canada, invests in manufacturing innovation through initiatives such as the Advanced Manufacturing Fund, Technology Demonstration Program, the Strategic Aerospace and Defence Initiative, and the Automotive Innovation Fund.

Quick Facts

• More than 32,000 manufacturing establishments in southern Ontario contribute significantly to local economies.
• The manufacturing sector is a major contributor to Canada's economy, employing more than 1.7 million Canadians, of which nearly 750,000 live in Ontario. It also accounts for half of the business R&D in Canada and generated sales of $591 billion in 2013, including $270 billion in sales for Ontario alone.
• Since 2009, FedDev Ontario has contributed almost $350 million to over 2,100 manufacturing indirect and direct projects, which has leveraged an additional $1.371 billion.
• FedDev Ontario's partnership with CME, which includes previous investments of more than $38 million, has helped more than 700 small and medium-sized manufacturing businesses in southern Ontario to become more productive and better equipped to compete in world markets.
• With a new $20-million investment from FedDev Ontario, CME is delivering SMART Advanced Technologies for Global Growth, which provides funding for manufacturers to conduct technology assessments and adopt advanced technologies, such as robotics, 3D printing and automated materials handling.
• With a $9-million investment from FedDev Ontario, the Yves Landry Foundation (YLF) is continuing to deliver its Achieving Innovation and Manufacturing Excellence (AIME) Global initiative, which helps export-oriented manufacturers provide employee training to support the adaptation of new technology, new processes or procedures that increase productivity and competitiveness.

Quotes

"Our Government is committed to helping manufacturers as they grow their operations, invest in new technologies and create high-quality jobs. We are proud to work with partners such as CME to ensure we are listening to and responding to the needs of businesses in this critical sector of the Canadian economy."

- The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario

"The global marketplace and its pressure on Canada's manufacturing sector have never been stronger. Canada's economy has shifted its dependency to once again rely on the innovative commercialization of advanced manufacturing techniques and technologies to drive growth. Ontario remains the heart of Canada's industrial sector and, in turn, Ontario's economy depends on manufacturing to create high paying jobs, commercialize new products and technologies and to drive exports."

- Mathew Wilson, Vice President of National Policy at Canadian Manufacturers & Exporters (CME)

Associated Links

Palcam Technologies Ltd.

Advanced Manufacturing Fund

Investing in Business Growth and Productivity

CME SMART Advanced Technologies for Global Growth

Achieving Innovation and Manufacturing Excellence (AIME) Global initiative

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