Learn how eligible companies can get support to make investments in technology, equipment or skills to improve your competitiveness. The Advanced Manufacturing and Innovation Competitiveness (AMIC) stream is a funding stream for medium size or smaller companies seeking to improve their competitiveness by investing in technology, equipment, reshoring manufacturing, or skills. #### **Types of Funding:** ***Loans:*** - Up to 15% of eligible costs up to a maxof $5 million (interest-free for the projectperiod; interest applied during repayment)with potential to forgive 30% or up to$500,000 if targets are met. ***Grants:*** - Only available for small companies (less than 100 FTEs) in rurallocations or qualifying special projects, to a maximum of $500,000.A $1.5 million grant may be available in limited circumstances. #### **Eligibility:** **Program open to companies in the advanced manufacturing sector that:** - have at least three years of operations/financial statements - employ at least 10 people - commit to creating at least five new jobs and/or upskill current jobs - invest at least $500,000 in their project - are located in, or plan to locate in, a community in Ontario **To complete the eligibility self-assessment tool and to learn about the program, visit [www.ontario.ca/AMIC.](https://www.ontario.ca/page/regional-development-program-advanced-manufacturing-and-innovation-competitiveness-stream)** **Program requirements:** - Companies approved for funding must sign a contract which includes commitments to investment, jobs and payroll. Clawback provisions apply if targets are not met. - Project commitments are 3–4 years and payments are made in annual installments. - At the end of a project, a final certificate from an external auditor is required at the company’s expense. **Application period five** - Application opening: July 29, 2024 – September 26, 2024 - Application deadline: September 26, 2024 - Notification date: December 20, 2024 Every business that applies will have access to complementary services which could include: environmental compliance approvals; addressing skills and talent issues; and leveraging available tax credits. Learn more at **[Regional Development Program: Advanced Manufacturing and Innovation Competitiveness Stream | ontario.ca](https://www.ontario.ca/page/regional-development-program-advanced-manufacturing-and-innovation-competitiveness-stream)**