Productivity Improvements Component
Q: What is the purpose of the Productivity Improvements component of the Targeted Manufacturing Initiative for Northern Ontario (TMINO)?
A: Through the Productivity Improvements component of FedNor’s TMINO, Northern Ontario companies can apply for financing to modernize their operations by upgrading and improving equipment used in their manufacturing process. The goal is to help manufacturers boost their productivity, leading to increased sales and exports, as well as job creation.
Q: Who is eligible?
A: Manufacturers located in Northern Ontario with fewer than 500 employees.
Q: What are the funding conditions?
A: Generally, FedNor will contribute up to 33 percent of eligible capital costs and up to 50 percent of eligible non-capital costs. All funding contributions are repayable. Repayable contributions are interest free and provide flexible repayment schedules.
Q: How are project applications assessed?
A: Applications will be assessed against the criteria outlined in the TMINO guidelines and against the Regional Economic Growth through Innovation general Terms and Conditions. Applicants cannot presume that financial support will be provided toward their project until written approval is obtained through a signed contribution agreement.
Q: What is the project application process?
A: To apply to FedNor’s Targeted Manufacturing Initiative for Northern Ontario, applicants must first submit an Application for financial assistance form. Upon written confirmation from FedNor that the application can proceed, applicants will be asked to submit a Detailed Submission (Phase Two), as well as other supporting documentation where required. Before completing your application, carefully review the TMINO guidelines to ensure your organization is an eligible recipient and your proposed activities fit within the objectives and criteria of this initiative. FedNor officers are available to guide applicants through the application process.
Q: What is the deadline to submit applications for TMINO?
A: There is no deadline; applications will be accepted on a continuous basis.
Q: What costs are eligible?
A: Eligible costs are those that will improve and modernize the manufacturing process, leading to increased productivity and competitiveness. Examples of eligible costs include:
- Manufacturing / production equipment purchases, including digital hardware and software;
- Installation and associated training costs;
- Process/quality control improvements, and certifications; or
- Other modernization efforts.
Consult the TMINO guidelines for more information.
Q: What costs are ineligible?
A: Ineligible costs include, but are not limited to, land, buildings, vehicles, marketing, studies, overhead, depreciation and salaries.
Q: How much money is FedNor earmarking for this initiative?
A: FedNor will entertain all eligible applications through its Regional Economic Growth through Innovation. How much FedNor invests will depend on the number of applications it receives. It is important to note that the Targeted Manufacturing Initiative for Northern Ontario was designed to meet the needs of Northern Ontario small and medium-sized businesses, helping them to become more productive and competitive in the global marketplace.
Q: Will there be any new money available for TMINO?
A: No. FedNor will be supporting the TMINO through its Regional Economic Growth through Innovation. FedNor is always evaluating needs to ensure its investments have the greatest impact on the growth of Northern Ontario's economy and the growth of a more innovative manufacturing sector is a priority.
Q: What else is the Government of Canada doing for Manufacturing?
A: Budget 2013 established an Advanced Manufacturing Fund that will provide $200 million over five years to support investments by Ontario manufacturing firms in activities that create new and innovative products or production methods, such as prototyping, demonstration projects and advanced product testing. The new fund will be managed by the Federal Economic Development Agency for Southern Ontario.