Northern Ontario Heritage Fund Corporation Awards $3.4M in Grants
Two companies in Northern Ontario have received Northern Ontario government funding for strategic business growth projects. AirSuite in Thunder Bay and Canadore College in North Bay will be moving forward with projects that help promote and stimulate economic development initiatives for the province.
A combined total of $3,380,000 has been awarded to two businesses through the Northern Ontario Heritage Fund Corporation (NOHFC).
The Northern Ontario Heritage Fund Corporation was specifically designed to benefit businesses in Northern Ontario. NOHFC enables businesses to receive funding for a wide range of projects that will improve local business settings. The companies awarded will use the Ontario small business grants to build new state-of-the-art facilities and invest in innovative software to improve safety operations.
NOHFC Invests $3.4M in Two Northern Ontario Businesses
In 2017-2018, the province invested more than $188 million through the NOHFC funding program into more than 950 projects in 145 communities across Northern Ontario. This accounted for more than $964 million in direct economic activity and helped create and sustain over 4,000 jobs.
Two recent recipients who received government funding for research and development include:
AirSuite (Thunder Bay) is a software development company for the aviation industries, using modern technology to streamline the flight operations process. Their product, Cirro, is an automated flight management software option for fixed wing and helicopter operators that automates the compliance process of flight planning.
AirSuite has received $380,000 in funding for research and development from the Northern Ontario Heritage Fund Corporation.
The company will continue to develop flight systems for fixed wing and helicopter operators for improved safety. The Northern Ontario government funding program has helped with internal labour costs, which have been critical during the development stage of the software. As well, the funding will continue to assist with marketing, advertising, and website improvements.
Canadore College (North Bay) is a college of applied arts and technology, as well as an established leader in Indigenous education. The college’s focus is on student success, program and service excellence, connection to the community, and sustainability and innovation.
NOHFC is investing $3 million in Northern Ontario business grants to Canadore College.
The college is using the funding to build a health sciences and healthcare complex. “The Village” will be a health and wellness centre that will double as both an educational resource for students and a living facility for retirees; students, senior care, teaching, experiential skills training, and applied research will all be in one venue. The new facility will focus on collaborative interprofessional education and the integration of Indigenous, Eastern, and Western healing and wellness practices.
About the Northern Ontario Heritage Fund Corporation (NOHFC)
The Northern Ontario Heritage Fund Corporation is a crown corporation and economic development agency that supports the progression of Northern Ontario businesses. NOHFC funding encourages business growth through awarding government funding and providing other support mechanisms.
The program provides up to 50% coverage of project costs to a maximum $1 million in Northern Ontario business grants.
There are a wide range of government funding programs available to Northern Ontario businesses to support strategic growth projects. Three of the top programs include:
- Northern Business Opportunity Program: Supports business expansion for startups and established businesses not currently located in Northern Ontario.
- Northern Innovation Program: Supports the development and commercialization of new technologies by fostering collaboration between businesses, academic institutions, and research facilities in Northern Ontario.
- Northern Ontario Internship Program: Supports businesses who provide internship opportunities for recent graduates in Northern Ontario in a variety of key industries.
To learn more about Northern Ontario government funding programs such as those provided through NOHFC, please register for Mentor Works’ Government Funding Snapshot newsletter.
Posted: June 20, 2018 by Myra Bredin. Updated: June 20, 2018 by Myra Bredin.