Canada’s federal government has announced $100 million in funding to support small and medium-sized steel and aluminum producers in all parts of the country.
The new plan, called “promoting regional economic growth through innovation in steel and aluminum,” was announced at a press conference on March 11.The plan will provide free funding for small and medium-sized steel and aluminum manufacturers to boost productivity, improve competitiveness through technological innovation and create more high-skilled jobs.
Funding for the plan will range from $150,000 to $1m and is expected to support steel and aluminium producers in about 300 small and medium-sized enterprises.
In 2017, Canadian steel and aluminum employed more than 33,500 canadians, contributing $8.9 billion to Canada’s gross domestic product.