Mike Wallace helps federal Minister deliver cheques for $899,093 to innovative Burlington corporations; is there an election coming?
Burlington Gazette – March 19, 2015 – Burlington, ON.
The federal election is expected to take place in the fall – the campaigning has already started.
MP Mike Wallace was in town with FedDev Ontario Minister Gary Goodyear talking about the funds they had made available to two Burlington corporations – Memex Automation, a publicly traded company and Adflow, a very smart technology company that many Gazette readers see and use regularly.
The funds distributed were part of a federal Business Innovation initiative. The funds are repayable and are aimed at strengthening the innovative eco-system of south-western Ontario; a part of the province that took a huge economic hit in 2008 when world financial systems looked like they were going to melt down completely.
Memex was loaned $800,000 and Adflow was loaned $99,093. Why that wasn’t rounded up to the next logical number only a bureaucrat somewhere can explain.
Both companies are rather small but clearly leaders in their fields – Memex has 22 employees – they expect to hire an additional sixteen people with the funds received. while Adflow has 28 employees and will use their funds to expand into larger space.
The Gazette will do full length features on both companies in the near future.
The take away message from the $899,093 the federal government spread around today was that the federal election is beginning to heat up.
Is there more federal money to come?
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