Investing in Regional Diversification – Canadian Government Grants
Investing in Regional Diversification (IRD) is a new program offered through FedDev’s Ontario 2013 Action Plan. This program is a non-repayable Canadian government grant, which covers 50% of project costs up to a maximum of $20 million. The remaining 50% must be provided as a cash contribution.
IRD Government Grants Canada for Not-For-Profits -Program Focus
The program’s focus centers upon supporting incorporated, not-for-profit organizations located in southern Ontario, which are looking to build on economic strengths and respond to local challenges in order to increase competitiveness and diversity. IRD serves to leverage unique regional assets and local expertise to attract new investment and opportunities for economic growth and development. Investing in Regional Diversification is designed to create economic value for not-for-profit organizations by facilitating capacity building for the long-term development of stronger, more diverse economies in southern Ontario communities. IRD will benefit communities who have economic development as part of their mandate, and may be facing economic distress.
Investing in Regional Diversification: Eligible Projects
Investing in Regional Diversification will support projects objectives that seek to diversify a community’s economic base, and create a regional or sub-regional impact by working with private sector and other community stakeholders to develop assets. Not-for-profit organizations may seek to apply for the following eligible project types:
IRD Government Grants for Capacity Building:
- Industry/sector cluster development and expansion
- Human capital retention and attraction
- Implementation of community/regional action plan
IRD Canadian Grants for Business Infrastructure:
- Business incubators
- Supply chain analysis and development
Investing in Regional Diversification Government Grants Canada –Eligible Expenses
The following types of expenses are eligible for funding through IRD government grants Canada.
- Labour
- Expertise
- Non-capital
- Capital
IRD Canadian Government Grants -Eligible Companies
Eligible applicants must be:
- Incorporated Not-for-profit organizations
- Located in Southern Ontario
- Organization mandate includes economic development
- Working with private sector and/or community partners
Investing in Regional Diversification –Application Process
Investing in Regional Diversification is now open and accepting applications on continuous intake. Applicants are limited to one approval under this initiative, and the application is a two Phase process, consisting of a Statement of Intent, followed by a Full Proposal.
Investing in Regional Diversification Canadian Business Grants – Funding Deadlines
Applications will be received until funding is fully committed, and all projects must be completed by December 31, 2018.
Access IRD Grants from the Canadian Government
To get started on your Investing in Regional Diversification Canadian Government Funding Grant, contact a Canadian Government Funding expert today. To stay abreast to new developments and up to date information on Canadian business grants and loans programs sign up for our Canadian government funding weekly e-newsletter.