To provide a more productive, diversified and competitive economy in Southern Ontario, FedDev Ontario has allocated $210 million to this new program called the Prosperity Initiative. The initiative supports three different strategic projects to create a Southern Ontario Advantage that include: Regional Diversification, Productivity Enhancements and Competitive Advantage. Eligible costs may include capital (i.e. excluding land & buildings), labor and operating expenditures, materials & supplies, software, consulting or professional fees, travel and meeting costs.
- Amount: Repayable contributions of up to 50 per cent of direct eligible capital project costs and up to 75 per cent of direct eligible non-capital costs to a maximum of $20 million.
- Timeline: New 4 year program. Continuous intake. All activities must be completed by March 31, 2014.
- Eligibility: SME’s under 1000 employees in Southern Ontario. Priority may be given to organizations in the sectors of: environmental science and technology, natural resources and energy, health and related sciences and technologies, food and beverage industries, information and communication technologies.