Looking for an ideal location for the expansion of your current business? If so, NOHFC’s New Investment Projects Funding Program may make persuade your company to seriously consider locating a new facility in Northern Ontario.
Small Business Grants Ontario through NOHFC
Generous small business grants and loans from the government makes it very tempting to choose Northern Ontario as the location of your next business office or manufacturing plant. The North Ontario Heritage Fund Corporation (NOHFC) has recently announced the availability of new Ontario government funding programs to develop the Northern Ontario economy.
Aim of the NOHFC Small Business Grants Ontario Program
As a result the NOHFC New Investment Projects Program will support businesses, not currently located in Ontario, open a new facility in Northern Ontario with the intent of creating local jobs.
NOHFC Business Grants in Ontario – Company Eligibility
The New Investment Projects funding is available to competitive businesses that have the financial capability of supporting the development of a new facility in Northern Ontario. In order to be awarded NOHFC small business grants Ontario is expected that the company would have a plan focused on creating new jobs in the region and be interested in and supportive of regional cluster development. The company will also be responsible for demonstrating to NOHFC the economic benefits that will occur by the establishment of their business in Northern Ontario.
NOHFC Grants for Businesses in Ontario – Project Eligibility
For a project to be eligible for funding, it must fit with one of the following priority areas of NOHFC:
- Advanced manufacturing
- Agriculture, aquaculture and food processing
- Arts, culture and creative industries
- Digital economy
- Forestry and value-added forestry-related industries
- Health sciences
- Renewable energy and services
- Minerals sector and mining supply and services
- Water technologies and services
- Transportation, aviation and aerospace
NOHFC Business Grants Ontario – Application Process
Ontario government grants dispersed through the New Investment Projects Fund will be determined by the NOHFC on a case-by-case basis. It can be expected that some of the funding will be given as a grant and some as a loan. Companies will be expected to contribute financial resources to the project as well. The amount and type of funding provided will be impacted by the number of jobs the project will create in Northern Ontario.
To explore whether this NOHFC Ontario government funding program is ideal for your upcoming project, please contact Mentor Works. Our team of Canadian Government Funding Planners can answer questions about this program and help optimize your application process.