Released on = July 24, 2007, 5:19 am

Press Release Author = IRIS Conseil

Industry = Financial

Press Release Summary = ONTARIO GOVERNMENT OPENS CALL FOR PROPOSALS FOR ADVANCED
MANUFACTURING INVESTMENT STRATEGY.
Strategy Boosts Innovation And Creates Jobs In Ontario.

Press Release Body = ONTARIO GOVERNMENT OPENS CALL FOR PROPOSALS FOR
ADVANCED MANUFACTURING INVESTMENT STRATEGY
Strategy Boosts Innovation And Creates Jobs In Ontario

TORONTO, Ontario - The Ontario Government is accepting proposals for the fourth
round of its Advanced Manufacturing Investment Strategy (AMIS), Minister of Economic
Development and Trade Sandra Pupatello announced.

\"Our government always receives a great response from manufacturers across the
province who want to participate in this program,\" Pupatello said. \"Now even more
companies can take advantage of what AMIS has to offer: access to critical funds
that increase productivity and competitiveness. I encourage every qualified business
to apply.\"

The $500-million AMIS program provides repayable loans interest free, for up to five
years, to support investments in technology and innovation. The innovative projects
announced to date under this initiative will generate nearly $400 million in new
investments and support the creation or retention of about 3,000 jobs. In the 2007
budget, the Ontario government lowered the project threshold for AMIS loan
applications to either 100 jobs created/retained or $25 million invested to allow
more small and medium-sized companies to participate.

The submission deadline for proposals is August 30, 2007. For eligibility
requirements and an application package visit www.ontariocanada.com (click on the
\"Programs and Services\" link).

AMIS is part of the government\'s overall plan for jobs and prosperity that includes
investments in public infrastructure, postsecondary education, stable energy supply,
research and innovation and key economic sectors.

Successful projects to date include:

Skyjack Inc., Guelph (May 14, 2007) - Creation of a Centre of Excellence to
facilitate industrial research and development, prototyping, testing and
commercialization of new aerial work platforms and materials handling equipment. A
loan of $2.48 million supports a total project investment of $24.79 million.

Roxul Inc., Milton (March 15, 2007) - Plant expansion and development of new
commercial, industrial and residential insulation products that use recycled scrap
material from the steel and construction industries. A loan of $10 million supports
a total project investment of $103.7 million.

Koolatron Corporation, Brantford (March 7, 2007) - Development of new products,
including a large mobile cooler and cordless mosquito trap, using energy-efficient
thermoelectric power. A loan of $2.34 million supports a total investment of $23.4
million.

Flakeboard Company, Sault Ste. Marie (March 1, 2007) - Development of new
manufacturing processes and commercial applications for wood-alternative materials
used in kitchen cabinets and furniture. A loan of $1.6 million supports a total
investment of $16.0 million.

FAG Aerospace Inc., Stratford (February 20, 2007) - Research and development into
improving the manufacture of precision bearings for the aerospace industry. A loan
of $1.78 million supports a total investment of $17.8 million.

Diamond Aircraft Industries, London (June 23, 2006) - Development of a
single-engine, five-seat jet aircraft. A loan of $10 million supports a total
investment of $106.4 million.


Procter & Gamble Inc., Brockville (June 23, 2006) - Development of a new generation
of quick-cleaning homecare products. A loan of $3 million supports a total
investment of $30 million.

\"Innovative companies like these fuel local economies and create high value jobs for
hard working Ontarians,\" Pupatello said. \"It\'s our goal to help emulate the success
of these manufacturers across all sectors over and over again, and generate greater
opportunities for more people province wide.\"

This is just one more example of how, working together, Ontarians have achieved
results for the economy. Other job creation initiatives include:

. A new $650-million Next Generation Jobs Fund that will leverage investments in
green technologies that help to reduce greenhouse gas emissions and improve
environmental sustainability

. The Ontario Automotive Investment Strategy that has leveraged more than $7 billion
in new investments and anchored about 7,000 high-value jobs

. Building east-west partnerships to help Ontario manufacturers tap into
opportunities flowing from Alberta\'s oil sands, which are expected to generate
projects worth more than $100 billion by 2020.


For more information, contact:
Ray Lancashire, Media Relations, Invest Ontario
Ministry of Economic Development and Trade
900 Bay Street, 5th Floor, Hearst Block, Toronto, Ontario M7A 2E1
Tel: (416) 326-1608
Fax : (416) 314-4589
E-mail: ray.lancashire@ontario.ca



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