24 Nov Province to Invest in Manufacturing Sector
Rural manufacturing businesses and export companies will have the chance to improve their competitiveness with a new Manufacturing Productivity Program.
Government announced today, Nov. 23, it is partnering with the Canadian Manufacturers and Exporters Association and the Atlantic Canada Opportunities Agency (ACOA) to help up to 32 Nova Scotia companies improve work processes and produce higher-quality, lower-cost products more quickly.
“Our province is stronger when our businesses are working smarter and finding new ways to become more efficient and productive,” said Labour and Advanced Education Minister Labi Kousoulis. “This program will help businesses throughout the province improve their operations so they can better compete in markets around the world.”
Small- and medium-sized manufacturing and export companies will be invited to attend information sessions during the coming weeks. They can then apply to participate in the year-long program where they will receive Lean productivity training that teaches organizations how to reduce waste and increase efficiency. The training is customized to the needs of each organization.
The province is investing $250,000 in the program over the next year. It will match federal support over the next three years pending yearly assessments.
The Government of Canada is providing a $951,516 non-repayable contribution to Canadian Manufacturers and Exporters (CME) through ACOA’s Business Development Program.
“We know that innovation is the key to business success in Canada. Industry associations, such as CME, play a key role in helping high-growth firms reach, and exceed, their potential,” said Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA. “CME represents countless small- and medium-sized businesses that are the backbone of Canada’s economy and the engine for new job creation. Our government is proud to support the work being done by Canadian Manufacturers and Exporters to promote best practices among its members that benefit our entire economy.”
Selected companies will contribute $4,800 to cover some training costs. It costs $32,000 to offer this program to one company.
In 2016, the total sales of Nova Scotia’s manufacturing sector contributed $8 billion to the provincial gross domestic product.