Feds loan $30 million to 8 Waterloo tech companies

Economic Development Minister Melanie Joly said Wednesday the funding will be close to $30 million in eight tech companies in the Waterloo Region.“This will create 500 new jobs and will also maintain 300 jobs,” she said during an online announcement.

Among the other moves, the federal government is ensuring firms have access to the wage subsidy and CIBA accounts and the IRA program, she said.“My colleague, Bains, who’s in charge of the Investment Canada Act, has clearly stated that there would be some heightened obligations on the part of foreign companies because we want to make sure that we protect our Canadian tech startups and Canadian companies,” Joly said.

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