As mentioned in our recent Canadian Prosperity Grants blog, the Northern Ontario Heritage Fund Corporation (NOHFC) has another program called the Infrastructure and Community Development Program (ICDP). This Canadian government funding program specifically helps northern communities make the necessary investments to improve critical infrastructure and develop effective partnerships that find effective ways to create jobs and improve economic prospects in the North. To be eligible for this Ontario government funding, the:
- Infrastructure projects including industrial parks, winter road projects, community facilities for economic development purposes, waterfront development
- Essential and strategic community infrastructure necessary for job-creation in the North
- Community development projects that include indentifying sectoral research projects, develop opportunities that contribute to overall NOHFC objectives and create direct jobs or small capital projects
- Other projects necessary to further an economic goal or improve the quality of life in Northern Ontario
Available Ontario Government Funding
Canadian government funding includes conditional contributions, forgivable performance loans or repayable loans. In terms of infrastructure projects, assistance will not exceed 50% or $1 million. For community development projects, assistance will not exceed 50% or $50,000.
Applications for this funding for small business will be assessed based on the significance of the project, number of jobs to be created, financial capacity of the applicant, adherence to program guidelines, public benefit and the consistency with a community planning process. Preference will be given to projects that demonstrate high levels of financial leverage and provide opportunities for investment from other partners.
Government Funding for Business Support
For more information, please contact one of our Canadian Government Funding Experts or sign-up for a 60 Minute Government Funding Workshop. You can also receive regular Canadian Government Funding Updates by signing up for our Weekly Government Funding E-Newsletter or following us on Twitter.