Incentives and financial support available
The investment support helps local businesses access grants from the provincial and federal governments, as well as interest-free loans. The majority of government grants currently available are mainly aimed for manufacturers. It is important for us to support local submissions, where there is financing potential. By helping local businesses access new funding, we are encouraging new investors and local businesses in their efforts. This is a profitable situation for the investors and our region, since we are dedicated to making these Counties better places to live.
Business Development Bank of Canada
Description: BDC actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financing, investment, and consulting services.
Terms/Assistance/Benefits: Multiple financing solutions.
Canadian Youth Business Foundation Start-Up Financing Program
Description: Mentoring, educational resources and start-up financing assistance to aspiring young entrepreneurs.
Terms/Assistance/Benefits: Loan up to $15,000.
Eastern Ontario Development Fund - Ministry of Economic Development
Description: An $80-million provincial government grant program to provide up to 15 per cent of the total eligible expenses for private sector companies to a maximum of $1.5 million per project; and 50 per cent for qualified economic development projects of agencies, associations and NGOs valued at $100,000 or more.
Terms/Assistance/Benefits: Businesses must invest $500,000 or more in qualified projects that create at least 10 jobs over five years. Firms must be located in Eastern Ontario and currently employ at least 10 people. Sector focus includes manufacturing; processing; tourism; business services; cultural industries; technology and green technology development.
ecoEnergy for Renewable Heat
Description: Financial assistance to increase the use of renewable thermal energy and develop capacity in the renewable thermal energy industry.
Terms/Assistance/Benefits: Eligible industrial, commercial and institutional entities will receive 25% of the purchase, installation and certain other costs of a qualifying system.
Ontario Centres of Excellence - Investment Accelerator Fund Program
Description: A major Ontario Government commercialization initiative to provide eligible technology-based start-ups with between $250,000 and $500,000 in seed capital to support technology development, market potential analysis, prototype development, early customer trials, promotion and patenting costs.
Terms/Assistance/Benefits: Investments are generally made in the form of a convertible debenture (loan) in return for a nominal equity position.
Ontario Innovation Demonstration Fund
Description: Non-interest bearing repayable or forgivable loans; royalty agreements and equity participation to help commercialize innovative technologies.
Terms/Assistance/Benefits: Contributions up to $4 million.
Ontario Research Fund - Ontario Ministry of Research and Innovation
Description: Supports the operational costs (direct and indirect) and the capital costs of research of Ontario's research community.
Terms/Assistance/Benefits: Matching funds towards projects granted by Canada Foundation for Innovation or the private sector.
Terms/Assistance/Benefits: Maximum contribution by the OPA for any one project is $250,000.
Film or Video Production Services Tax Credit Program - Canada Revenue Agency
Description: Federal refundable tax credit for foreign producers for labour expenditures rendered in Canada by Canadian residents.
Terms/Assistance/Benefits: 16% of eligible labour expenditures.
NOHFC - Private Sector Emerging Technology Program
Description: Non-repayable or repayable contributions for research and technical projects in Northern Ontario.
Terms/Assistance/Benefits: Loans up to 1 $million or $50,000 non-repayable contributions on a cost-shared basis.
Ontario Book Publishing Tax Credit (OBPTC)
Description: Tax credit for Ontario publishing companies to publish and promote works by a Canadian author.
Terms/Assistance/Benefits: Up to $30,000 refundable tax credit per title.
Ontario Computer Animation and Special Effects Tax Credit (OCASE)
Description: Ontario tax credits for computer animation and special effect activities in film or TV productions.
Terms/Assistance/Benefits: 20% refundable tax credit for eligible labour expenditures.
Ontario Film and Television Tax Credit (OFTTC)
Description: Ontario refundable tax credit for film and video productions.
Terms/Assistance/Benefits: 20% of eligible labour expenditures.
Ontario Interactive Digital Media Tax Credit
Description: Ontario refundable tax credit for labour, marketing and distribution expenditures for the creation of interactive digital media products.
Terms/Assistance/Benefits: 20% of eligible expenditures; 30% for qualifying small corporations.
Ontario Production Services Tax Credit (OPSTC)
Description: Ontario refundable tax credit for qualifying labour expenditures for those productions that do not meet the Canadian content requirements.
Terms/Assistance/Benefits: 18% refundable tax credit on labour expenditures.
ecoEnergy Retrofit (industry)
Description: Incentive program to fund energy retrofits for SME industries.
Terms/Assistance/Benefits: Eligible SMEs can receive 25 percent of project costs to a maximum of $50,000 per application and $250,000 per corporate entity.
SMART Program - Canadian Manufacturers & Exporters
Description: Financial assistance for manufacturing productivity improvement projects such as lean design and lean manufacturing, quality improvement, energy efficiency, IT best practices, and environmental impact reduction.
Terms/Assistance/Benefits: Funding up to $50,000 or 50% of the eligible project costs, whichever is less.
Technology Development Fund - Ontario Power Authority
Description: Financial assistance to support pre-commercial technologies or applications that have the potential to improve electricity supply, conservation or demand management.
Terms/Assistance/Benefits: Maximum contribution by the OPA for any one project is $250,000.
Achieving Innovation & Manufacturing Excellence - Yves Landry Foundation
Description: A cost shared program to fund training that will lead to advancements in innovation within the manufacturing sector in Ontario.
Terms/Assistance/Benefits: Grant up to $50,000 per company, covering 100% of eligible direct training costs and 50% of eligible indirect training costs.
Apprenticeship Job Creation Tax Credit - Canada Revenue Agency
Description: A 10 percent Federal tax credit to cover salaries and wages paid to training new apprentices in the first two years of the contract.
Terms/Assistance/Benefits: $2,000 tax credit per year.
Apprenticeship Training Tax Credit
Description: A 25 percent provincial refundable tax credit on salaries and wages paid to new apprentices in certain skilled trades to help offset employers' costs. Small businesses receive a 30 percent tax credit.
Terms/Assistance/Benefits: Employers can claim up to $5,000 each year to a total of $15,000 per eligible apprentice over the first three years.
Industrial R & D Fellowships - Natural Sciences and Engineering Research Council of Canada
Description: Financial assistance for companies to hire recent doctoral graduates in science and engineering to conduct research and development in industries.
Terms/Assistance/Benefits: Contributes $30,000 per year for two years towards the PhD research fellow's salary.
Industrial Research Assistance Program - National Research Council Canada
Description: Technical advisory services, networking and financial assistance to SMEs.
Terms/Assistance/Benefits: Invests on a cost-shared basis.
Ontario Centres of Excellence Inc.
Description: 6 sector-based centres and various programs to strengthen research linkages between academia and industry.
Terms/Assistance/Benefits: Knowledge transfer, commercialization, training.
Ontario Job Connect
Description: Training subsidies for employers who train youths out of school, out of work, not currently in a training program.
Terms/Assistance/Benefits: Training subsidies are available.
Ontario Summer Jobs Service
Description: Wage support for employers hiring students for seasonal jobs during the summer.
Terms/Assistance/Benefits: Wage support of $2/hr to 16 weeks.
Targeted Wage Subsidies Program
Description: Temporary wage subsidies to assist employers providing on-the-job experience and hiring individuals who face barriers in finding employment.
Terms/Assistance/Benefits: Subsidy less than 60% of wages paid.
Work-Sharing Program - Human Resources and Social Development Canada
Description: Provides income support to workers eligible for Employment Insurance benefits and who are willing to work a temporary reduced work week when there is a reduction in the normal level of business activity that is beyond the control of the employer.
Terms/Assistance/Benefits: 6 to 26 weeks of income support to workers eligible for Employment Insurance benefits to help employers and workers avert temporary layoffs.
Canadian Institutes of Health Research - Innovation and Industry Programs
Description: Major federal health research funding agency for universities, hospitals and research institutes has research programs matching industry partner's financial contributions.
Terms/Assistance/Benefits: Co-funding on a project basis.
Communications Research Centre Canada - Industry Canada
Description: Helps SMEs develop their potential through on-site technology incubation and technology transfer.
Terms/Assistance/Benefits: Access to world-class facilities and support.
FEDNOR - Applied Research and Development Program
Description: Repayable assistance for commercialization of intellectual property, product development, and productivity improvement in key sectors in Northern Ontario.
Terms/Assistance/Benefits: Up to $500,000 (maximum 50% of eligible costs).
Industrial Research Assistance Program - National Research Council Canada
Description: Technical advisory services, networking and financial assistance to SMEs.
Terms/Assistance/Benefits: Invests on a cost-shared basis.
Internship Program with Innovative Small and Medium-sized Enterprises - National Research Council Canada
Description: Financial assistance to innovative Canadian SMEs to hire post-secondary graduates.
Terms/Assistance/Benefits: Internships assistance between six to twelve months and up to $15,000.
Ontario Business Research Institute Tax Credit (OBRITC)
Description: A refundable tax credit program for qualifying corporations incurring qualified expenditures in respect of SR & ED under an eligible contract with an eligible ERI.
Terms/Assistance/Benefits: Provides a corporation or an associated group of corporations a tax credit of up to $4 million.
Ontario Centres of Excellence Inc.
Description: 6 sector-based centres and various programs to strengthen research linkages between academia and industry.
Terms/Assistance/Benefits: Knowledge transfer, commercialization, training.
Ontario Innovation Demonstration Fund
Description: Non-interest bearing repayable or forgivable loans; royalty agreements and equity participation to help commercialize innovative technologies.
Terms/Assistance/Benefits: Contributions up to $4 million.
Ontario Innovation Tax Credit (OITC)
Description: Refundable provincial tax credit on R & D expenditure claims.
Terms/Assistance/Benefits: Up to 10% refundable tax credit, maximum claims $200,000.
Ontario New Technology Tax Incentive (ONTTI)
Description: 100% immediate write-off of the eligible cost of qualifying intellectual properties acquired in the course of an intellectual property transfer.
Terms/Assistance/Benefits: 100% write-off.
Ontario Scientific Research and Experimental Development Expenditures (SR & ED)
Description: A deduction in respect of Ontario research and development.
Terms/Assistance/Benefits: An incentive for corporations undertaking SR & ED in Ontario.
Scientific Research and Experimental Development Tax Incentive Program - Canada Revenue Agency
Description: The largest single source of federal support for industrial R & D. Investment tax credits for expenditures such as wages, materials, machinery, equipment, some overhead, and SR & ED contracts.
Terms/Assistance/Benefits: 35% tax credit for first $2 million of expenditures, 20% on any excess amount.
