Policy experts have previously warned the program’s lofty economic goals may not be achievable
The program’s mandate expires at the end of March 2023. The organizations want Ottawa to renew the program for a second term and give them more money to spend, ideally in the budget that’s set to be tabled Thursday.Article content
Hamilton, Ont.,-based Next Generation Manufacturing Canada could bid for as much as $650 million. The organization has a pipeline of projects in areas including automation, electric vehicles, industrial decarbonization and circular production, according to CEO Jayson Myers, and has pledged its entire $249.8-million allocation from the first cycle.
The St. John’s-based Ocean Supercluster has stopped accepting new projects because its $153-million federal allocation is “fully committed … for all practical purposes,” said CEO Kendra MacDonald. She said the organization is “looking for a bigger number” in any second mandate, but declined to disclose how much.