Northern Ontario companies looking to expand their current operations will be excited to hear about this new Ontario business grants program offered through the Northern Ontario Heritage Fund Corporation (NOHFC).
NOHFC Government Small Business Grants for Business Expansion Projects
The NOHFC Business Expansion Projects fund is geared towards existing businesses in Northern Ontario that are planning to expand their current operations and in the process, create more jobs.
NOHFC Grants for Business Expansion Projects – Company Eligibility
NOHFC has specific areas of interest for their Business Expansion Projects funding. The priority areas are:
- Advanced manufacturing
- Agriculture, aquaculture and food processing
- Arts, culture and creative industries
- Digital economy
- Forestry and value-added forestry-related industries
- Health sciences
- Minerals sector and mining supply and services
- Renewable energy and services
- Transportation, aviation and aerospace
- Water technologies and services
NOHFC Grants for Businesses in Ontario – Funding Amount
Ontario business grants offered through the Business Expansion Projects program will support up to 50% of project costs to a maximum of $1 million. NOHFC will determine whether the applicant is approved and if so how much of the amount will be dispersed as a business grant and/or a loan. Typically, the small business grant portion will not exceed 30% of the total funding allotted. The applicant is expected to provide at least 50% of the project costs.
NOHFC Grants for Small Businesses in Ontario – Project Eligibility
The Business Expansion Projects funding program is meant to support capital costs but not R&D, or Marketing. Capital costs covered by this Ontario government grants program include: building costs and leasehold improvements, equipment, ICT, land servicing and 3rd party training.
Looking for Additional Information about NOHFC Small Business Grants for Expansion Projects?
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.