The federal government announced that it will be investing more than $4 million into CME’s SMART program—an important initiative designed to help small and medium-sized manufacturers boost productivity and overall global competitiveness. Not only is that great news for Ontario businesses, but it is great news for communities across the province.
Through the first two stages of the program, CME has leveraged more than $40 million in funding to lend a hand to more than 750 growing, thriving enterprises. “Those are numbers the Canadian Manufacturers & Exporters are especially proud of,” commented Ian Howcroft, President of the Canadian Manufacturers & Exporters.
After all, manufacturing and small businesses are at the heart of Ontario’s economy.
In fact, according to statistics from the Ministry of Economic Development and Trade, the province has the second highest number of manufacturing employees of any jurisdiction in North America, trailing only the state of California. When it comes to the size of businesses powering the economy, more than 99 per cent are small and medium-sized enterprises, employing more than 2.9 million people and accounting for $250 billion in annual activity.
They are sectors every Ontarian has a stake in. And it is our job to maximize every opportunity for their success.
But success is an ever-evolving target, and the landscape of the economy is fundamentally changing, both at home and abroad. To complete on the global stage, manufacturers now must be faster, stronger, more specialized, and more customized. That’s what the SMART program is all about: creating a more effective and sustainable business.
This new funding—$4.2 million in total—is critical to continuing this mission. Through programs like SMART, and through the leadership of organizations like CME, manufacturers in both Ontario and across Canada continue to make a name for themselves at the forefront of innovation.
More about the SMART program
Under the SMART program, businesses can receive up to half of eligible project costs, to a maximum of $50,000 per project. Areas of focus include improvements in LEAN design and manufacturing, energy efficiency, information technology best practices, and reducing environmental impact.
To be eligible, the manufacturing facility where the project will be implemented can have no few than 10 and no more than 500 employees at the date of submission.
All project activities must be completed by March 31, 2014.
For more information about the initiative or the application process, please visit www.cme-smart.ca.
Canadian Manufacturers & Exporters (CME) is Canada’s leading trade and industry association, and the voice of manufacturing and global business in Canada. For more information, visit www.cme-mec.ca.