The Southwestern Ontario Development Fund (SWODF) recently awarded a Windsor company $570,000 in funding to support a $5.5 million investment in a new manufacturing facility and equipment.
SWODF is a business expansion funding program focused on supporting:
- Companies investing in new facilities and equipment; or
- Economic development organizations and municipalities investing in infrastructure or implementing strategies to advance regional economic priorities.
Companies can receive anywhere between $500K to $5M in funding from the SWODF program.
SWODF Funding Will Create Jobs
Porter Engineered Systems will be opening a new manufacturing facility in the Windsor-Essex region to design and create seating structures, mechanisms, and power train components. The expansion will also require the purchase of new equipment such as a band saw, heat oven and advanced software.
While this expansion project will utilize $1.8 million in specialized one-time labour, the investment is projected to create at least 15 new well-paying jobs in Ontario. The company is also expecting to see a $3 million boost in revenues annually.
The government of Ontario has agreed to provide Porter Engineered Systems with $570K as the project is promising in terms of supporting local businesses and creating increased economic activity.
SWODF funds businesses under two different streams – the Business Stream and the Community Economic Development Stream. The regional development fund has provided more than $68 million to 62 companies since it opened in 2019. To learn whether your business qualifies for funding under SWODF, visit our dedicated program page to see the eligibility criteria.
More Funding Opportunities in Ontario for Your Business
Ontario also funds businesses through the Eastern Ontario Development Fund (EODF), covering a different region within the province.
Our Mentor Works funding directory can help you find grants, loans, and tax credit programs in Ontario. Using this information, your business will be able to align projects and strategic spends that are relevant to the preferred funding opportunity, and then craft and submit a detailed application.
It’s important to remember that Mentor Works, a Ryan Company can support and help you optimize all aspects of the funding application process. Download our free funding guide to explore funding options and contact our team to get started on your preferred grant program.