Southwestern Ontario Development Fund 2020 Intake Dates Now Posted!

The Southwestern Ontario Development Fund provides support for projects and investments to businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario. SCOR EDC is happy to have been invited by the Ministry of Economic Development Job Creation and Trade to consult on the eligibility criteria for the program.  Through changes made as a result of the consultation, the program has become much more accessible to rural businesses throughout southwestern Ontario.

How it works

The types of support available include:

• funding support

• complementary services and support

The fund supports projects that:

• create jobs and build talent

• attract and encourage private sector investment

• lead to business growth and broad positive economic impacts

• encourage innovation, collaboration and cluster development

Who is eligible

All 5 Counties in SCOR are eligible! The fund supports business and community economic development projects.

Business projects

To be eligible, businesses need to:

• invest at least $500,000 in their project (or $200,000 if you are in rural Ontario)

• employ at least 10 people (or 5 if you are in rural Ontario)

• commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees)

• be able to provide 3 years of operations/financial statements

• be located in, or plan to locate in, a community in southwestern Ontario

Community economic development projects

To be eligible, projects need to:

• be led by municipalities, economic development organizations (including sector groups) or consortia

• focus on economic and business development and job creation in the community or region by investing in infrastructure or implementing strategies to advance regional economic development priorities

• lead to measurable outcomes including private sector investment, growth and job creation

• invest more than $100,000have private sector support

• be used for activities that are new to the organization

Please note:

Projects in the following sectors are not eligible for support: primary production, retail, construction (e.g., residential development), personal services, consulting, electricity generation, waste management, recycling, information and communication services, academic research, and stand-alone restaurants and hotels (unless transformative and considered a regional priority).

Application Intake Periods:

• Application Intake Period 1: NOW OPEN! Applications Due January 20th 2020

• Application Period 2: Open March 5th 2020 and are due April 20th 2020

• Application Period 3: Open June 5th 2020 and are due July 20th 2020

• Application Period 4: Open September 3rd 202 and are due October 19th 2020

Contact:

Have questions about eligibility and the application process? Contact Laura Gibson at: laura.s.gibson@ontario.ca

Funding Program Updates:

Click here to stay up to date with the latest funding incentives and programs!

Source: All information is sourced from https://www.ontario.ca/page/southwestern-ontario-development-fund#section-2