$250M in new support to flow to steel and aluminum sector

In response to protectionist measures established by the United States, the Government of Canada is making $250M in new funding available through the Strategic Innovation Fund to help bolster the competitiveness of local manufacturers and better integrate the Canadian supply chain of steel and aluminum.

Quick Facts.

  • The new funding will support companies that invest in innovation and capital expenditures including: new equipment, production and process technologies; and workforce training and upskilling related to these new technologies and processes.
  • The Government will also invest $50M over five years to help companies diversify their exports and take advantage of new trade agreements, such as CETA and CPTPP. This will include new “export readiness” grants.

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