KITCHENER, ONTARIO--(Marketwired - Jan. 31, 2014) - Federal Economic Development Agency for Southern Ontario
Today, Minister of State for FedDev Ontario Gary Goodyear celebrated a successful partnership and investment of up to $1 million for the Yves Landry Foundation (YLF). The funds are a top-up to a previous Government of Canada investment that is allowing the continuation of a thriving skills training program, the highly successful Achieving Innovation and Manufacturing Excellence (AIME) Global Initiative.
The AIME Global Initiative was created to meet the needs of exporting and export-ready manufacturers in southern Ontario. Through AIME Global, YLF offers training designed to upgrade the skills of workers at small- and medium-sized manufacturing companies, and helps manufacturers identify innovative ways to improve productivity and diversify their products. This additional funding is helping YLF to support up to an additional 30 small- and medium-sized enterprises (SMEs), train and re-train an additional 500 workers, and create an estimated 60 additional jobs.
- The $1-million top-up brings the total FedDev Ontario investment in YLF to $18 million. In November 2009, the Agency committed $12 million to YLF through the Southern Ontario Development Program. A $5-million contribution to YLF through the Agency's Prosperity Initiative was announced in January 2012.
- This total investment of $18 million has allowed YLF to expand the AIME Global program, and the project has supported over 170 SMEs across southern Ontario, leveraged over $6 million in SME investments, trained 5,166 workers, created 801 jobs, and maintained almost another 800 jobs.
- Since August 2009, FedDev Ontario has invested more than $1.1 billion, resulting in partnerships with more than 5,300 organizations and more than $1.5 billion in additional leveraged investments from almost exclusively non-government sources to support businesses, organizations and communities in southern Ontario.
"Our Government is committed to supporting the growth of the manufacturing sector by investing in the people who make it so vital. These investments have allowed for the continued skills training that workers need, and, in turn, will help manufacturers improve productivity and access new markets locally and globally."
Minister of State for FedDev Ontario Gary Goodyear
"We are extremely pleased to be partnering with the Government of Canada to assist our manufacturers in becoming more competitive and capable. If our manufacturers are competitive on a global basis, Ontario can retain and grow essential manufacturing jobs. This additional funding will continue to support manufacturers to upgrade the skills of their workers. Through this partnership and ongoing financial support, together, we give manufacturers every opportunity to train their staff to develop new skills for the next generation of jobs."
Executive Director, Yves Landry Foundation
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