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This article was published 11/11/2009 (4171 days ago), so information in it may no longer be current.
WINNIPEG - The Composites Innovation Centre has received a substantial vote of confidence from the federal and provincial governments with an investment of $11.6 million over the next four years.
The pledge is twice the level of funding the non-profit organization received four years ago.
Winnipeg is home to one of the largest concentrations of composites manufacturers in the country and the CIC supports those industries by providing technical know-how for them to develop new composites manufacturing processes.
Since it began in 2003, the centre has been able to derive about 25 per cent of its total revenue from third party sources.
Sean McKay, the CIC’s executive director, said the goal is to increase that to about 50 per cent of its revenues over the next four years from sources other than the core funding announced Tuesday from the Canada-Manitoba Western Economic Partnership Agreement.
Martin Cash has been writing a column and business news at the Free Press since 1989. Over those years he’s written through a number of business cycles and the rise and fall (and rise) in fortunes of many local businesses.