Southwestern Ontario Development Fund (SWODF) Awards Manufacturer $875k in Grants
Guelph Manufacturing Group has been awarded $875,000 in Ontario small business grants to execute its latest project. The business will use Ontario government funding to purchase new equipment and expand its workforce to increase company capabilities; by doing so, it will meet consumer demands better, improve productivity, and boost international competitiveness.
The contribution will be provided through the Southwestern Ontario Development Fund (SWODF), which offers government funding to support significant facility expansion and equipment acquisition projects. Ontario manufacturers can access up to 10-15% of eligible expenses to a maximum $5 million in business expansion funding.
The Government of Ontario’s investment will help Guelph Manufacturing Group invest in technological upgrades and high speed production equipment. By completing the project, Guelph Manufacturing will create 31 sustainable jobs and retain a total of 523 existing positions.
Related Post: Grand River Foods Awarded $1.3M in SWODF Ontario Government Funding
Guelph Manufacturing Group Receives Southwestern Ontario Development Fund
Since 1965, Guelph Manufacturing Group has specialized in welding, tube and wire forming, and metal stamping for various industries. The company has three manufacturing facilities in Ontario, and additional operations in Michigan and Georgia.
To continue their expansion, the company will invest a total of $8,747,640 in its Ontario-based manufacturing capabilities. For this project, Guelph Manufacturing Group has been awarded up to $874,800 in Ontario small business grants through the Southwestern Ontario Development Fund.
New equipment and technologies will help the company improve internal engineering capabilities to meet consumer demands. This investment will allow Guelph Manufacturing Group to create 31 new jobs and retain 523 existing positions.
Southwestern Ontario Development Fund for Small Business Expansion Projects
The Southwestern Ontario Development Fund (SWODF) supports business expansion projects by providing government grants and loans. The program administers small business funding to reduce the costs of purchasing capital equipment, investing in workforce development, and developing new infrastructure.
Ontario-based businesses may be eligible to receive the following funding contributions:
- Less than $10 Million in Project Expenses: Up to 10-15% in Ontario government grants to a maximum of $1.5 million in funding.
- More than $10 Million in Expenses: Up to 10-15% in Ontario government grants to a maximum $1.5 million in funding with the option to access another $3.5 million in repayable funding.