On September 9, 2019, Ontario pledged C$10-million over three years to the Ontario Automotive Modernization Program (O-AMP), a key supply chain commitment under the Driving Prosperity plan.
Driving Prosperity: The Future of Ontario’s Automotive Sector is a 10-year plan to strengthen competitiveness and innovation in Ontario’s automotive sector. For more information about the Driving Prosperity plan, please see our March 2019 Blakes Bulletin: Ontario Unveils Plan to Boost Auto Sector, Pledges C$40-Million in Funding.
WHO IS ELIGIBLE FOR O-AMP FUNDING?
Ontario-based automotive parts suppliers are eligible to apply for O-AMP funding. Among other things, companies must have (i) fewer than 500 employees globally, and (ii) less than C$1-billion in global revenues. Larger businesses may apply if they partner with at least one eligible entity.
Projects must be achievable, aligned with O-AMP’s goals, and categorized as technology adoption and/or lean manufacturing.
HOW MUCH FUNDING DOES O-AMP PROVIDE?
O-AMP provides successful applicants with up to C$100,000 in funding to cover up to 50 per cent of eligible project costs.
The application deadline for the current O-AMP intake round is October 18, 2019. More information regarding eligibility, application requirements, and the evaluation process is available on the Government of Ontario web page.
The Blakes Automotive group will continue monitoring the Driving Prosperity plan and provide updates as they become available.
For further information, please contact:
David Kruse 416-863-2467
or any other member of our Automotive group.
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