KITCHENER, Ont. — On January 31, the Minister of State for FedDev Ontario, Gary Goodyear, announced an investment of up to $1 million for the Yves Landry Foundation (YLF). The funds are a top-up to a previous investment from the federal government to the Achieving Innovation and Manufacturing Excellence (AIME) Global Initiative, a skills training program.
The AIME Global program was created to meet the needs of exporting and export-ready manufacturers in southern Ontario.
Through the program the YLF offers training designed to upgrade the skills of workers at small- and medium-sized manufacturing companies, and help 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. According to a government release, the funding expected to create an estimated 60 additional jobs.
Our government is committed to supporting the growth of the manufacturing sector by investing in the people who make it so vital, Goodyear stated.
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.
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 Agencys Prosperity Initiative was announced in January 2012.
Im pleased that Minister Goodyear has taken the time to meet with local stakeholders about challenges and opportunities in the food and beverage processing sector, said Karyn Brearley, Executive Director, Yves Landry Foundation.
We look forwarding to seeing growth in this sector, which plays a key role in our economy, especially here in Leamington.
According to government figures, the total investment of $18 million has allowed YLF to expand the AIME Global program. They claim 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.
