Minister Jim Prentice Announces Investment in Auto Sector Jobs
Market Wire, September, 2008
At the new and expanded facility, Ford will consolidate a significant part of its engine testing capacity for North America. It is expected to create or sustain up to 47 knowledge-based jobs in Windsor. Total investment in the creation of the research centre is expected to be $117 million. The Government of Canada's contribution to the research centre will be $23.2 million.
About the Automotive Innovation Fund
The Automotive Innovation Fund (AIF) was introduced in Budget 2008 and provides $250 million over five years to automotive firms in support of strategic, large-scale research and development projects to build innovative, greener and more fuel-efficient vehicles.
Industry Canada will consider proposals for funding under the AIF that include private sector investment in Canada valued at a minimum of $300 million over five years. Eligible projects include vehicle and powertrain assembly operations that are associated with significant automotive innovation and research and development initiatives.
Individual proposals are evaluated based on the strength of the business case, with specific emphasis on innovation, research and development, environmental, and economic benefits.
Funding through the AIF is provided in the form of unconditionally repayable contributions. At the end of the payback period, funding recipients will have paid back the contribution in full. Each proposal for AIF support is subjected to a comprehensive due diligence process to assess the project's feasibility and risk, as well as its ability to deliver the proposed innovation, environmental and economic benefits.
Contacts: Office of the Honourable Jim Prentice Minister of Industry Bill Rodgers, Director of Communications 613-995-9001 Industry Canada Media Relations 613-943-2502
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