On Tuesday, July 13, the Government of Canada launched the Jobs and Growth Fund. The Fund, delivered by Canada’s regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.
In Northern Ontario, FedNor is investing $26.6 million through this new program.
Eligible applicants include businesses, including co-operatives and Indigenous-led organizations and/or businesses, not-for-profit organizations and community economic development partners.
Indigenous-led organizations and/or businesses are strongly encouraged to apply and may be eligible for up to 100 percent of project costs for projects with Indigenous clients.
Eligible activities include:
- Activities that support the transition to a green economy
- Activities that foster an inclusive recovery
- Activities that preserve Canada’s competitiveness and future-proof SMEs through digital adoption
- Activities that strengthen capacity in sectors critical to Canada’s recovery and growth
- Eligible businesses could receive interest-free repayable contributions for up to 50 percent of eligible costs
- Eligible not-for profit organizations could receive non-repayable contributions for up to 90 percent of eligible costs
Applications will be accepted on a continuous intake basis until such time as the funding is fully allocated.
Read more about this announcement here. For complete details on eligibility, and to apply for funding, visit FedNor’s Jobs and Growth Fund webpage or contact your local FedNor Initiatives Officer today.