OTTAWA, ON, Oct. 10, 2020 – Canadian Manufacturers & Exporters (CME) welcomes the new federal support measures announced today to help companies affected by COVID-19.
“Today’s announcement is good news for Canadian manufacturers and will help businesses remain competitive in the challenging months ahead.” said Dennis Darby, President and CEO of CME.
Canada Emergency Wage Subsidy (CEWS) Extension
CME is pleased to see the CEWS extended until June 2021 and the subsidy rate frozen until December 19, 2020.
“Extending CEWS allows manufacturers to retain talent and invest in training. For some, it is even an opportunity to develop new products or invest in research and development. However, we need more certainty on the program for 2021. Industry must be part of that consultation process.” says Mr. Darby.
Canada Emergency Rent Subsidy (CERS)
CME welcomes the new CERS which will support tenants and property owners. This is a key detail for manufacturers as they often own their premises.
“CME will offer its full support to the federal government in the development and deployment of programs to support manufacturing companies during these uncertain times. Doing so will help lay the foundation of a solid economic recovery,” concludes Dennis Darby.
About Canadian Manufacturers & Exporters
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.