Ottawa earmarks $5.7M for Alberta steel, aluminum sectors
Ottawa has announced $5,701,738 in funding for 10 companies in Edmonton, Calgary, in Edmonton, Calgary, Lethbridge, and Nisku, Alta., involved int he steel and aluminum sectors.
The funding is being provided under the Regional Economic Growth through Innovation (REGI) Steel and Aluminum Initiative, announced in March.
“Our metal resources are crucial to the way energy is generated and used. Our ability to shift to a low-carbon economy is dependent on minerals and metals, which includes steel and aluminum.” says Amarjeet Sohi, Minister of Natural Resources and MP for Edmonton Mill Woods. “Our investment in these innovative businesses that build products from steel and aluminum is helping these craftsmen contribute their expertise to the clean future we envision.”
Delivered by Canada’s regional development agencies, the funding provides targeted support to Canadian small and medium-sized businesses in the steel, aluminum, and manufacturing sectors through non-repayable contributions for projects to enhance productivity, increase competitiveness by adopting new innovative technologies, and create more highly skilled jobs.
With this funding, these companies will design new products, open new facilities, and install advanced manufacturing equipment, creating an anticipated 150 jobs.