Agfa Gets Canadian Bailout Grant

Agfa-Gevaert is a Belgian company, but it has a major presence in Canada, specifically in Waterloo and Toronto.

I have reported here and there about Agfa's Imaging Division being for sale, but so far, it remains as it was. I suspect that it will continue for a good while longer, thanks to the Province of Ontario, Canada:

BRUSSELS, Jan 19 (Reuters) - Belgian imaging technology group Agfa-Gevaert ( AGFB.BR ) said on Monday its healthcare unit had received a grant of 29.6 million Canadian dollars (US$23.6 million) from the Ontario government to aid its growth there.

Agfa Healthcare, which provides hospital imaging systems and other information technology services, said the money would support its research and development and regional operations in Toronto and Waterloo, Canada.

The grant will be part of an increased investment by Agfa Healthcare in its Ontario operations, creating 100 new positions, Agfa Healthcare said.

Ontario's Premier, Dalton McGunity, seems to enjoy playing Santa Claus, as he is also behind a $4 Billion (Canadian) loan to Chrysler and GM. The grant (not a loan, apparently) to Agfa will:

. . .help fund the development of new software that allows radiologists to share digital images across a regional network, instead of having to develop X-rays and physically transport them between facilities.
Those types of investments, McGuinty said, are also important to ensure the province's economy bounces back.

"We're doing both at the same time," McGuinty said. "We're lending a hand to Agfa, we're lending a hand to the auto sector as well."

Let's do some math here, shall we? $30 Million (Canadian) for 100 jobs. That would be $300,000 per job, yes? Should I ask my friends up in Waterloo if they're getting $300K at the moment? Probably not. Maybe they would consider hiring only 90 people and working really, really hard on some of my Impax issues?

Oh, Canada! Can I have a grant, too? Please?