The Northern Ontario Heritage Fund Corporation (NOHFC) has recently established a funding program called The Infrastructure and Community Development Program (ICDP) for Northern Ontario communities and businesses.
NOHFC Ontario Small Business Grants and Loans Details
With the help of Government grants Ontario and small business loans Ontario ICDP provides support for projects that have the potential to create jobs, attract economic development opportunities and promote prosperity within those communities. Ontario government grants and small business loans Ontario support under this initiative can be either conditional contributions, forgivable performance based loans, or repayable loans.
Ontario Government Funding for Infrastructure Projects
The Ontario government funding received from the Infrastructure and Community Development Program (ICDP) can be used towards a variety of infrastructure projects that would improve the economic health of the community. These may include:
- New buildings or community facilities
- Road development (winter road projects)
- Industrial parks
- Waterfront development or potential tourist attractions
Eligible infrastructure projects are primarily based on their abilities to promote job creation and provide new economic benefits to the community. The proportion of infrastructure project funding will generally not exceed $1 million or 50% of the project costs.
Ontario Government Funding for Community Development Projects
Community development projects should also be focused on creating jobs and economic benefits for the community. Projects will receive up to $50,000 or 50% of the activity costs. These may include but are not limited to:
- Sectoral research projects
- Small capital projects
- Community development opportunity events (Business or Job Fairs)
Ontario Government Grants and Loans Additional Information
Any businesses, government related agencies, not-for-profits, or educational institutes that operate in these communities may apply for project funding. Applicants will be responsible for providing a viable business plan for their proposed project. To be eligible for government funding Ontario projects must fit the overall goals of the NOHFC.
Small Business Grants Ontario and Small Business Loans Service & Support
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