FedNor – Jobs and Growth Fund

Description:

The Jobs and Growth Fund 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 eligible costs for eligible businesses;
  • non-repayable contributions for up to 90 percent of eligible costs for not-for profit organizations.

Under the initiative, FedNor may contribute up to 100% of eligible project costs for projects with Indigenous clients.

Eligibility:

Applicants must be:

  • Incorporated Businesses, primarily Small and medium size enterprises (SMEs);
  • Not-for-profit organizations and community economic development partners;
  • Indigenous organizations such as Indigenous-led not-for-profits and organizations;
  • legal entities capable of entering into legally binding agreements.

To be considered eligible, project benefits must accrue to Northern Ontario.

Other Things to Note:

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 to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.

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