This program is designed to support your business by providing up to $7,000 in wage subsidies for hiring students in work-integrated learning (WIL) opportunities. This financial incentive helps you minimize the cost of bringing in fresh talent, allowing you to strengthen your workforce without a significant financial burden.

Key Benefits:

• Financial Support: Receive up to 70% reimbursement of the student’s gross wages, making it easier to manage payroll costs.
• Talent Pipeline: Build a pool of skilled workers who are already familiar with your business operations and culture.
• Risk Mitigation: Offset the risks associated with hiring new employees by subsidizing their wages.

Why Apply?

• Easy Qualification: The program is straightforward to qualify for, ensuring that you can quickly access the funds you need.
• Workforce Development: Enhance your team with motivated students who bring new perspectives and up-to-date knowledge.
• Government-Backed: Enjoy the security of a government-backed program, providing you with reliable financial support.

By participating in this program, you not only gain financial relief but also contribute to the development of the next generation of professionals in the electricity sector.

Type of Financing:

• Wage Subsidy: Employers can receive wage subsidies of up to $7,000 for creating new Work-Integrated Learning (WIL) opportunities for students.

Repayment Terms and Interest Rates:

• Reimbursement: Employers can receive 50% to 70% of the student's gross pay, up to a maximum of $5,000 to $7,000 per placement.
• Net New Rule: Employers must track the number of students hired before receiving funding. Placements must not exceed one year in duration.

Eligible Expenses:

• Employer Organization: Canadian-owned companies in the electricity sector, engaged in various activities related to electricity generation, transmission, and distribution.
• Participants: Full-time or part-time students in post-secondary institutions, legally able to work in Canada.

Ineligible Expenses:

• Recruitment Restrictions: Funds cannot be used to recruit friends or family members for the program.
• Retroactive Applications: Applications for funding for past placements are not accepted.

Fees:

• No Application Fee: There is no fee to apply for the program.
• No Renewal Fee: Standalone loans do not have a renewal fee.
• Administration Fee: An administration fee of 1.25% is included in the interest rate.

This program offers up to $7,000 in wage subsidies for businesses that create new Work-Integrated Learning (WIL) opportunities for students. This funding can help you cover a significant portion of a student's wages, making it easier to bring fresh talent into your business.

You can use the funds to:

• Hire students for co-ops, internships, or other work placements.
• Support roles in science, technology, engineering, mathematics, arts, or business.

The subsidy covers:

• 50% of the student's gross wages, up to $5,000.
• 70% of the student's gross wages, up to $7,000 for first-year students, women in STEM, newcomers to Canada, persons with disabilities, and Indigenous Peoples.

This program is a great way to reduce hiring costs, try out potential future employees, and build your talent pipeline. The funding is non-repayable, so there's no payback period to worry about. This is an excellent opportunity to invest in the future of your business while supporting students' career development.

To apply for the program, follow these steps:

1. Gather Required Documentation:

   • Proof of co-op placement employment
   • Employment contract with the participant
   • Start date of the placement
   • Full wage and benefits details of the participant
   • Monthly financial claims and progress reports for each student

2. Visit the Application Portal:

   • Go to https://ehrc.fundingforfutures.ca/

3. Complete the Employer Application:

   • Fill out the necessary details about your organization and the proposed work-integrated learning (WIL) opportunity.

4. Submit Participant Eligibility Form:

   • Ensure the student participant completes and submits their eligibility form.

5. Wait for Processing:

   • Allow up to 10 business days for the application to be processed.

6. Sign the Contract:

   • If approved, sign the contract along with the participant and EHRC.

7. Create a Learning Plan:

   • Develop a Formal Learning Plan with the participant before the start of the placement.

8. Submit Monthly Claims:

   • Provide monthly financial claims and progress reports to EHRC for reimbursement.

9. Complete Evaluation Surveys:

   • Both the employer and the participant must complete evaluation surveys at the end of the placement.

10. End of Placement:

    • Ensure all documentation and reports are finalized and submitted to conclude the funded placement.