FedDev Ontario – Jobs and Growth Fund

Description:

The Jobs and Growth Fund (JGF) provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.

Comments on Funding:

Funding will take the form of interest-free repayable contributions for up to 50% of authorized costs.

Eligible not-for profit organizations could receive non-repayable contributions for up to 90% of authorized costs.

Project contribution amounts would not normally exceed $10 million.

Certain costs may be eligible on a retroactive basis up to 12 months before the receipt of a project application, but no earlier than April 19, 2021.

Under the fund, Canada’s regional development agencies (RDAs) may contribute up to 100% of eligible project costs for projects with Indigenous clients.

Eligibility:

Applicants must:

  • businesses, including co-operatives;
  • not-for-profit organizations and community economic development partners.

Indigenous-led organizations and/or businesses are strongly encouraged to apply. 

Applications Steps:

Documentation Needed:

Applicants might be asked to provide:

  1. a completed application form. The same form is used for applicants applying to either the Jobs and Growth Fund or the Aerospace Regional Recovery Initiative. Each program has a separate Supplemental Annex for applicants to address program-specific information requirements.
  2. historical financial statements for the last two (2) fiscal years and the most recent interim financial statement;
  3. organization’s articles of incorporation, and/or Partnership Agreement, Letters Patent, and all other required supporting documentation.

Other Things to Note:

The initiative, valued at $700 million nationally over three years, is being delivered by Canada’s regional development agencies (RDAs) and includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.

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