Eight businesses and organizations in Southern Ontario that faced challenges from trade disruptions are receiving financial support from the federal government.
Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (Fed Dev Ontario), announced over $20 million in funding on Friday.
“Across southern Ontario, businesses are navigating trade disruptions and evolving markets, which are placing new strain on supply chains,” Solomon said, adding that the funding will help those businesses navigate and adapt to the new trade landscape.
Among the businesses getting funding are Wallaceburg’s Aar Kel Tool & Die Inc., Five Star Tool and Die Ltd., Ritch-Meyer Machine & Tool Inc., and Select Finishing. A number of London-based companies, including the Western Fair Association, were also part of this announcement.
The funding is sourced from the Regional Tariff Response Initiative, created to assist small-and-medium-sized enterprises affected by tariffs. This money aims to support projects that enhance efficiency, adopt new technologies, expand growth opportunities, and maintain or create jobs.
London-West MP Arielle Kayabaga was also present at the announcement. She emphasized that fresh ideas and local markets are vital investments for the future of communities in Ontario.
“Investments in innovation are not just about economic growth; they are about building stronger, more resilient communities where people can succeed close to home,” she said.
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