This program is designed specifically for businesses like yours in Northern Ontario. It offers both repayable and non-repayable contributions to support your economic development projects. With FedNor's assistance, you can cover up to 50% of eligible non-capital costs and 33% of eligible capital costs, making it easier to fund strategic initiatives without bearing the full financial burden.

What You Get:

• Financial support for strategic and business planning, feasibility studies, marketing, and more.
• Capital investments for industrial lands, waterfront development, and new machinery or technology.
• Youth internships to help with community economic and business development projects.

Why Apply?

• Boost your business growth and competitiveness with targeted financial support.
• Enhance collaboration with stakeholders to achieve shared regional economic goals.
• Easy qualification process tailored to the unique challenges of Northern Ontario communities.

Contact a FedNor officer to discuss your project and start your application process. This program can be the key to unlocking new opportunities and driving sustainable growth for your business.

Type of Financing:

• Repayable and Non-Repayable Contributions: The program offers both repayable and non-repayable contributions. Generally, contributions are repayable if the project generates profits for the eligible applicant.

Repayment Terms and Interest Rates:

• Repayment Terms: Repayable contributions will have specific terms based on the project’s financial projections and profitability.
• Interest Rates: Details on interest rates will be provided during the application process.

Eligible Expenses:

• Non-Capital Costs:
  • Fees for professional and technical services, including project implementation and engineering services.
  • Costs related to community engagement and planning, such as facilitation and rental of facilities.
  • Marketing costs, including design, promotional materials, advertising, product demonstrations, and participation at trade shows.
  • Travel expenses and labor costs.
• Capital Costs:
  • Servicing of industrial lands.
  • Waterfront development.
  • Leasehold improvements.
  • Machinery, equipment, and technology.

Ineligible Expenses:

• Infrastructure supporting social goals, including educational facilities and health care services.
• Infrastructure related to retail, wholesale, accommodation, and administrative facilities.
• Activities and infrastructure primarily of a social/recreational nature, such as museums, libraries, cultural centers, and recreation centers.
• Government services.
• Land and rolling stock.
• Costs incurred prior to the eligibility date.

Fees:

• There are no specific fees mentioned for the application process, but applicants are encouraged to contact a FedNor officer for detailed information.

This program offers your business a chance to receive financial support to boost economic growth and development in Northern Ontario. You can get funding for up to 50% of eligible non-capital costs and up to 33% of eligible capital costs. This means you can use the money for things like strategic planning, marketing, and even buying new equipment.

Eligible costs include:

• Professional and technical services
• Community engagement and planning
• Marketing and promotional activities
• Travel expenses and labor costs
• Industrial land servicing and waterfront development

The funding can be either repayable or non-repayable, depending on whether your project generates profits. This flexibility allows you to focus on what's best for your business without worrying too much about immediate payback.

This program is designed to help you strengthen your business foundations, attract and retain a skilled workforce, and implement key economic initiatives. By participating, you can enhance your business's competitiveness and contribute to the economic vitality of Northern Ontario.