TORONTO, ONTARIO--(Marketwire - March 21, 2013) - The Funding Portal Inc. (TFP), which publishes the Industrial Stimulus Index™, stated that the new $200-million Advanced Manufacturing Fund and a $325 million investment to support clean technology will largely restore industrial stimulus spending levels in Canada for 2013.
The Index concludes: "Last year's Budget tightened the rules under the popular Scientific Research and Experimental Development (SR&ED) program and repurposed some-but not all-of the $1B/year in savings under the tax credit program into direct investment programs. Additional program funding under Budget 2013 will largely restore federal industrial stimulus spending to previous levels."
"The new $200-million Advanced Manufacturing Fund, together with new support for the aerospace and clean technology sectors, goes a long way toward neutralizing the multi-year impact of last year's cuts to SR&ED," said Teri Kirk, President and CEO, The Funding Portal.
On Friday morning, The Funding Portal will release the results of the new Industrial Stimulus Index, which measures trends in industrial stimulus spending by Canadian governments. The Index is a composite of three key indices: the TFP 100 Index, an annual list of the top 100 companies to receive government stimulus funding; the Funding Portal Index, an annual index tracking overall industrial stimulus investments; and, the VC Investment Stimulus Index, an annual index tracking transfers by governments to venture capital providers.
Rob Brouwer, Canadian Managing Partner, Clients and Markets, KPMG, said: "The Industrial Stimulus Index produced by The Funding Portal is a valuable new metric that can add further insights into government investments in private sector initiatives."
Jayson Myers, President & CEO, Canadian Manufacturers & Exporters (CME), said: "Access to financing remains a top challenge for Canadian manufacturers. The Funding Portal is delivering information and services that help companies fuel their growth and drive their research and development efforts."
Kirk will be available Thursday and Friday for interviews on the Industrial Stimulus Index and the impact of Budget 2013 on industrial stimulus investment levels in Canada.
What is The Funding Portal?
The Funding Portal is Canada's electronic gateway to all sources of G2B industrial funding-more than 4,000 programs distributing $24B in stimulus funding/year. Through its publications, the Industrial Stimulus Index™ and FundingReport™, the Portal is Canada's authoritative voice on industrial stimulus funding in Canada. Its financial backers and industry partners include leading government agencies, industry associations and advisors on industrial stimulus programs, including KPMG, Canadian Manufacturers and Exporters (CME), and Ontario Centres of Excellence (OCE).