Advanced Manufacturing Investment Strategy (AMIS)

What is it?

Interest-free loans to encourage Ontario manufacturing companies in all sectors to invest in leading-edge technologies and processes.

$500 million over six years is earmarked for the AMIS incentive loan program. It is meant to encourage innovative activities in advanced manufacturing and the development of highly skilled and value-added jobs.

Who Qualifies?

Ontario manufacturers who are creating/retaining 50 high value jobs OR making an investment of at least $10 million over the course of five years. These investments must be innovative and add value to manufacturing in Ontario by bringing or developing new technology, products and/or processes to Ontario and helping to create jobs and/or a more highly trained and skilled workforce.

What Qualifies?

Projects should fall under the category of "advanced manufacturing". Activities can include: Industrial R&D Design, prototyping and engineering Advanced materials Robotics/software development Waste reduction or energy conservation Centres of Excellence

What is the benefit to your company?

Companies can receive as much as $10 million over five years in interest-free loans. The 5-year interest free period is also principal-free during this period. The full term of the loan may be up to ten years with interest and principal repayments starting in year 6. (This interest rate is based on the Province of Ontario's cost of borrowing plus one per cent.)

Loans are up to 30% of your eligible project costs to a maximum of a $10 million loan.

For Example ...

To demonstrate potential savings, here are two hypothetical examples, assuming a 10-year loan term with the first five years being interest-free and principal-free:

1. Assume a $10,000,000 loan @ SOlo, during the first 5 years (interest and principal-free period) the interest savings each year would be $500,000 for a total interest savings over five years of $2,500,000.

2. Assume a $2,500,000 loan @ SOlo, during the first 5 years (interest and principal-free period) the interest savings each year would be $125,000 for a total interest savings over 5 years of $625,000.

For Example…

A food company could transform its manual packaging operations to state-of-the-art, high-speed robotics to make it more globally competitive, and provide training to staff and raise skill levels to work with the new technology. How do I apply?

Talk about your project with AMIS staff. They can help you determine whether your project meets the program's criteria, and they can help coach you through the application preparation and process stages. The program now allows for continuous intake. That means that each complete application is assessed within 45 days after it is received by AMIS staff.

Where can I find more information?

For more detailed information on AMIS, please visit their website. AMIS staff will be happy to give you feedback on your project ideas before you take the step of making an application. You can contact them at:

Advanced Manufacturing Investment Strategy (AMIS)

Ministry of Economic Development and Trade

Sector Competitiveness Branch

6th Floor, Room 611A, Hearst Block

900 Bay Street

Toronto, ON M7A 2E1

Tel: (416) 325-6867 Fax: (416) 314-7014

Email: AMIS@ontario.ca

We're Here to Help

To find out how the Business Development Branch at OMAFRA can provide you with knowledge, connections, and resources to help you grow your business, call toll-free at 1-888-466-2372 extension 64474 or email fooinvest@ontario.ca.

For information about this program and others, as well as our branch, visit http://www.omafra.gov.on.ca/english/food/

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