Jobs and Prosperity Fund (JPF) Awards Steam Whistle Brewery $1.33M
Steam Whistle Brewery is the country’s largest independent craft brewer. Since 2000, the company has produced a single brand premium pilsner in Toronto’s John Street Roundhouse, a historic and well-located downtown venue. Now almost two decades in operation, Steam Whistle has grown into one of Canada’s largest and most beloved independent breweries.
In April 2018, Steam Whistle Brewery was awarded $1,330,860 in Ontario government funding to purchase equipment and build a second production facility in Etobicoke.
The Jobs and Prosperity Fund (JPF) is an Ontario business grant for businesses that are creating jobs and enhancing productivity, innovation, and exports. Large-scale investments for infrastructure and innovative equipment can be offset by up to 10-15% through this program. As a result, companies can leverage government funding to reduce the risk of investments and take advantage of market opportunities sooner.
Steam Whistle Awarded $1.33M in Capital Investment Grants
Toronto’s Steam Whistle Brewery is one of Canada’s most iconic beer brands. The company’s well-enjoyed pilsner is a simple, yet refreshing blend of yeast, pure spring water, malted barley, and hops. With a well-integrated Canadian supply chain, Steam Whistle uses products and services from more than 100 businesses, approximately 80% of them from Southwestern Ontario.
Recently announced as a recipient of Ontario’s Jobs and Prosperity Fund, Steam Whistle will leverage up to $1.33 million in funding for business expansion.
These funds will be used to help Steam Whistle achieve significant business growth. It’s expected that the company will use the funds to build a new brewery in Etobicoke, Ontario, that will be open by January 2024. This facility will enable Steam Whistle to expand their product line for a new premium ale and a non-alcoholic version.
As a result, these new products will help Steam Whistle remain competitive in Ontario’s growing beer, wine, and spirits industry. The company also expects 100 new jobs to be created while another 143 are retained over the project’s five-year timeframe.
About the Jobs and Prosperity Fund (JPF)
Ontario’s Jobs and Prosperity Fund (JPF) provides capital investment grants to encourage innovative private-sector projects with large spends. Since January 2013, Ontario has awarded 35 projects up to $830 million in JPF funding; this has leveraged over $10.9 billion in company investment. These projects have created and retained approximately 46,000 high-quality jobs in Ontario.
Through the Jobs and Prosperity Fund, businesses may access up to 10-15% of eligible project expenses in business expansion funding.
JPF capital investment grants focus on supporting mature businesses who’ve been incorporated for at least three years and are prepared to invest in Ontario-based production facilities. To be competitive for funding, applicants must demonstrate how projects positively impact productivity, innovation, exports, and job creation/retention.
The Jobs and Prosperity Fund operates on a continuous call for applications. As such, large-scale Ontario manufacturers should prepare to submit a funding proposal during the project planning phase, prior to any expenses being incurred. Projects must be completed by the program’s end date in 2025.
Resource: How to Control and Reduce Operating Costs
Ontario-based manufacturers can implement several types of projects that positively impact productivity and competitiveness. These projects, often categorized under the umbrella of “Lean Six Sigma” initiatives, can help realize significant benefits such as reduced costs through minimizing waste.
Download the How to Control and Reduce Operating Costs white paper to gain access to a toolbox of concepts and skills to drive your organization’s profitability.
Posted: May 3, 2018 by Jeff Shepherd. Updated: May 3, 2018 by Jeff Shepherd.