The Northern Ontario Heritage Fund Corporation (NOHFC) offers conditional government grants for hiring recent grads funding via generous wage-subsidies through a program called The Youth Internship and Coop Program. The Youth Internship and Coop Program is meant to enable private and public sector companies and organizations to hire students as co-op students or recent graduates as interns.
This Northern Ontario government grants for small business program is structured as a conditional grant. The government funding for business is offered a wage subsidy to a maximum of 50% of the salary or a maximum of $6.00 per hour for hiring post-secondary students from Northern Ontario for co-op jobs. For internships, the Northern Ontario government funding is a wage subsidy to a maximum of 50% of the salary of a recent Northern Ontario graduate or a maximum of $27,000 annually for private sector employers. For public sector employers, the maximum is up to 90% of a recent Northern Ontario graduate’s salary to a maximum of $27,000 annually.
Government Grants for Small Business Additional Details
Government business grants funding for Coop Placements will be paid out on a 4 months term basis as a lump sum payment provided at the end of the term. Internships are expected to be 12 months in length. NOHFC small business grants Ontario for funding of Internships will be paid out every three months. Students and graduates must be 29 years old or younger.
NOHFC Small Business Grants for Hiring Success Stories
A company in Sudbury that provides safety, process, and technical training to staff, hired a software developer through the NOHFC Youth Internship and Coop Program. After the 12 month internship they hired their intern to their team on a full-time basis.
The Georgian Bay Biosphere Reserve works to promote economic and environmental sustainability. Recently they used the NOHFC Youth Internship and Coop small business grants funding to hire “Brittany.” Brittany helped develop a branding strategy that reinvigorated community involvement in the biosphere.
Without as many job or education opportunities, smaller northern communities often have difficulty attracting talented, young workers like Brittany. The NOHFC helps through the Youth Internship and Co-op program that offers wage subsidies to companies willing to provide valuable work experience to young adults. As of December 31, 2012, the program has helped 2, 290 interns gain valuable experience and learn new skills that will serve them into the future.
Contact a Canadian Government Funding Expert to Learn More
Government grants for small business hiring of recent grads and interns is a great way to leverage Canadian government funding for your small and medium-sized enterprise (SME). If you are an SME that has been incorporated for at least 2 years and have a minimum of 15 employees then there are likely several government funding for small business opportunities that you may not be aware of. Contact a Canadian government funding expert for a free consultation by clicking on the “get started” button below.
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