An article recently published in The Hamilton Spectator identified the Ontario automotive sector as lacking leadership and on the verge of a decline. Although the Ontario industry was a top global contender, manufacturers of vehicles and automotive components in Ontario are facing downward pricing pressures from developing nations with low labour rates, and consumer preferences…
Toyota Canada recently announced that they will be investing $421 million for state of the art enhancements to their Ontario production facilities in Cambridge and Woodstock. This amount, which includes a portion of Canadian government funding, shows the company’s commitment to the Ontario automotive industry and 8,000 jobs which area supported between the two plants….
The Ontario automotive sector contributed over $16 billion to the province’s GDP in 2014 alone. Ontario remains one of the strongest hubs in North America for the manufacturing and assembly of automobiles and Ontario’s economy is largely impacted by the performance of its industry players. The industry is rapidly evolving and therefore companies and government…
Amongst the updates announced in the Economic Action Plan 2015 was an improvement to the Canadian Small Business Financing Act (CSBFA), a popular small business loan to extend cash flows and support growth. As a quick overview, CSBFA was created to help businesses in establishing, expanding, modernizing, and improving their systems and targets. Businesses can…
The automotive sector is made up of several industries: automobile assembly, automotive parts manufacturing, and the relatively small auto body and trailer manufacturing sector. Although all industries are experiencing increased competition, the automotive parts manufacturing sector in particular are pressured to adopt advanced technologies and streamline processes in order to stay competitive in the face…
April 1st marked the first day of the Canadian government’s 2015 fiscal year and with it, came an update to the Economic Action Plan (EAP), an initiative to benefit Canadian businesses, families, and seniors. This article will focus on the business elements of EAP. The Canadian federal government created the Economic Action Plan in response…
Canada’s second-largest auto parts maker, Linamar, is receiving significant support from the Canadian federal and provincial governments. The Guelph-based manufacturer has committed to a $506.8 million research and development project that will lead to significant job creation and innovation within Ontario. The resulting economic impact has spurred multiple government investments to assure a successful project…
The Automotive Innovation Fund (AIF) is a government funding for research and development loan program dispersed through Industry Canada, focused on supporting Canadian businesses that help advance Canada’s capabilities in fuel-efficient automotive technologies while reducing greenhouse gases. Automotive Innovation Fund Canadian Government Funding for R&D: Background Information The Automotive Innovation Fund (AIF) began in 2008,…