VICTORIA — Small and medium-sized manufacturing businesses will receive millions in grants from the Province of B.C.
Provincial officials announced they will make $10 million in grants available which will be delivered by PricewaterhouseCoopers (PwC).
The Accelerating Manufacturing Scale-Up Grant program, which provides funding to eligible businesses to help them adjust to the economic changes created by the COVID-19 pandemic, will be accepting applications between April 15 and May 31.
“Innovation is essential for our economic recovery. So much has changed in the last year, and we need to work together to adapt,” said Ravi Kahlon, minister of jobs, economic recovery and innovation, in a statement. “This program strengthens small and medium-sized manufacturers and helps them become more globally competitive now and in the years ahead.”
The program will offer 75 per cent of project costs to a maximum of $250,000 for individual business projects, or up to $500,000 for projects by a group of businesses.
Kahlon noted more than 11,000 small and medium-sized manufacturing companies in B.C. contributing $17 billion to the economy annually.
The grants will go towards:
- demonstration or testing for prototypes of new technologies;
- commercialization of new technologies, products or services;
- improving market access or supply-chain competitiveness; and
- identifying and applying operational improvements or increasing sustainability in supply chains.