Government of Canada investment to support growth, innovation and competitiveness in Toronto

July 17, 2026 - Toronto, Ontario FedDev Ontario investment supports nine projects to help boost productivity and unlock new opportunities for growth Toronto is home to one of Canada's most div

Canada News Centre 17 Jul 2026, 20:37 GMT+10 July 17, 2026 - Toronto, Ontario FedDev Ontario investment supports nine projects to help boost productivity and unlock new opportunities for growth Toronto is home to one of Canada's most diverse and dynamic economies, bringing together world-class researchers, entrepreneurs, manufacturers and innovators. As global markets become increasingly competitive, the Government of Canada remains committed to investing in businesses and organizations-helping them boost productivity, drive innovation, and create good, sustainable jobs. Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), alongside Doly Begum, Member of Parliament for Scarborough Southwest, announced an investment of over $20 million to support nine businesses and organizations in the Greater Toronto Area, including A.F.C. Toronto City, Accuenergy Canada, Beachman, Blade Air, Corwin Metal Products, REMAP Network, Sheridan College, Toronto Global, and the University of Toronto.

This funding will help businesses such as Accuenergy Canada, Beachman, Blade Air, Corwin Metal Products, and REMAP Network to adopt advanced technologies, including Artificial Intelligence, to expand capacity and increase their competitiveness across the different sectors. Additionally, this funding will support businesses like Toronto Global, Sheridan College and the University of Toronto attract and anchor high-growth companies in the region, as well as help A.F.C. Toronto City to advance the growth, visibility, and long-term sustainability of women's professional soccer in southern Ontario. For information on the individual projects, refer to the backgrounder.

As part of this announcement, Accuenergy, a Toronto-based manufacturer of power and energy metering solutions, is receiving an investment to expand production capacity and launch new building automation solutions. The company is undertaking this $10 million project, with FedDev Ontario supporting approximately $2.6 million. The project will enhance Accuenergy's manufacturing efficiency, increase their product offerings, and expand their global reach for precision monitoring and innovative industrial solutions.

The Government of Canada is committed to supporting Canadian businesses and organizations seize new opportunities for growth, accelerate innovation, and contribute to a more competitive and resilient economy.