Peterborough, Sudbury & Niagara Create Jobs & Drive Growth through Gov’t Funding
A few key cities in Ontario have been early recipients of Ontario government grants and loans programs aiming to develop local communities by helping small businesses expand and adding jobs. Flying Colours Corp of Peterborough received funding through Eastern Ontario Development Fund, while IBS and Northwest Fudge Factory took advantage of funding through NOHFC, and Indexable Cutting Tools and Niagara Pistons also received size-able government grants for business expansion.
$1.2 Million EODF Investment in Sudbury Creates 60 New Aerospace Jobs
Flying colors Corp of Sudbury received over $1.2 million in funding through the Eastern Ontario Development Fund. The investment is expected to create an additional 60 high-skill positions as well as help with the purchase of new equipment, all to improve its custom interior finishing and completion services. The Eastern Ontario Development Fund is still accepting applications from growing Eastern Ontario businesses. Read More.
NOHFC Awards $600K & $74,000 in Ontario Business Grants
IBS of Northern Ontario, a distributor of lead acid batteries in Sudbury is receiving $600,000 in grants for Northern Ontario businesses through the Northern Ontario Heritage Foundation Corporation (NOHFC). The Ontario provincial funding received by IBC will be used to add a 7,600 square-foot warehouse and retail store.
Northwest Fudge Factory will receive $73,944 in NOHFC Ontario government grants which they will use to acquire new equipment to increase the company’s daily production capacity. Read More about NOHFC small business grants Ontario.
The Southwestern Ontario Development Fund (SWODF)
Niagara Bullet News reports that 2 local area businesses will receive a cumulative $496,000 in Ontario small business grants to help create 25 new jobs and retain 176 full-time positions.
Indexable Cutting Tools of Welland, Ontario will receive an Ontario government grant of $137,000 to allow for investment in new equipment to expand its product range into new sectors including medical technology. Meanwhile Niagara Piston will receive an small business grant for $359,000 to purchase new equipment that will help reduce energy use while resulting in a capacity increase that will see the firm add 15 new jobs. Niagara Piston manufactures precision cutting tools for use in the automotive and aerospace industries. Read More about SWODF.
Connect with Mentor Works to Stay Informed of Ontario Business Grants and Loans Opportunities
Mentor Works is your source for the latest news and updates on small business grants and loans for Ontario small to mid-sized businesses. If you have at least 15 employees, have been incorporated for a minimum of three years, and manufacture or conduct R&D in Canada sign up for a free upcoming Canadian government funding workshop and/or webinar.