Rural Economic Development (RED) New Streams Announced for October 2021
The Rural Economic Development (RED) program is a provincial program supporting regional economic development activities in lower Ontario. This program has introduced two new steams, the Economic Diversification and Competitiveness Stream & the Strategic Economic Infrastructure Stream. These programs cover between 30-50% of eligible project costs.
The next application intake for the RED program closes on October 1, 2021.
The Economic Diversification and Competitiveness stream provides funding for attracting and retaining jobs, diversifying regional economies, and strengthening certain sectors.
The Strategic Economic Infrastructure stream provides funding for minor capital projects that advance economic development and investment opportunities.
Program Snapshot: Rural Economic Development (RED)
Amount of Funding:
- Economic Diversification and Competitiveness Stream: up to 50% of eligible project costs to a maximum of $150,000.
- Strategic Economic Infrastructure Stream: up to 30% of eligible project costs to a maximum of $250,000.
To be eligible for the program you must be:
- A Canadian municipality;
- A not-for-profit entity;
- An Ontario Indigenous community or organization; or
- A Local Services Board.
- A business;
- An individual;
- A research institution or organization whose core business or primary activity is research and development (for example, universities); and
- A not-for-profit organization that is not incorporated.
Economic Diversification and Competitiveness Stream
Economic diversification and competitiveness projects:
- Remove barriers to business and job growth;
- Attract investment;
- Attract or retain a skilled workforce;
- Strengthen sector and regional partnerships; or
- Diversify regional economies in rural Ontario.
Most costs for projects in this stream will be non-capital. Projects must include implementation-oriented activities beyond strategic plan development (for example, economic development, feasibility, marketing, research, or evaluation.
Strategic Economic Infrastructure Stream
Strategic economic infrastructure projects advance economic development and investment opportunities in Rural Ontario, such as:
- Rehabilitation of cultural, heritage or tourism attractions;
- Redevelopment of vacant or under-used properties; or
- Main street minor capital improvements.
Applications for strategic economic infrastructure projects should include previously completed work (for example, plans, strategies, research, and data) that identifies the project as an economic development priority.
Apply for Rural Economic Development (RED) Funding
The RED program is open and is currently accepting applications until October 1, 2021. Those who are successful in their application to the RED fund will receive a contribution agreement prior to receiving any funds.
If your non-profit organization or municipality is considering writing an application for Rural Economic Development (RED) funding, we strongly encourage you to apply with Mentor Works professional government funding application writing team to find out if your eligibility and save an estimated 95% time savings compared to those that apply for funding by writing in-house.