Project will be first funded through a program designed to support R&D, scale-up high-potential companies and attract investment
OTTAWA—The federal government will announce a $49-million grant to help automotive parts maker Linamar Corp. develop its advanced manufacturing technologies.
Economic Development Minister Navdeep Bains will make the announcement this morning in Guelph, Ont.
The project will be the first to receive cash through a federal program announced in last year’s budget to support research and development, the scale-up of high-potential companies and efforts to attract investment to Canada.
Ottawa’s strategic innovation fund is open to all sectors and will allocate $1.26 billion over five years through a combination of grants and loans.
The federal government says the Linamar grant will create 1,500 jobs in Canada and help maintain more than 8,000 other positions.
Linamar has plans to open a new innovation centre in Guelph that’s dedicated to research and development, and the new funding will help advance the company’s work in areas such as artificial intelligence.