Grant and Funding Programs Offered by Township of Terrace Bay

To support economic diversification, investment, and community resilience in Terrace Bay through municipal leadership, business support services, and partnerships that help local businesses and workers adapt and grow.

Township of Terrace Bay is a Municipal government.

Township of Terrace Bay's official website is https://www.terracebay.ca/business/economic-development/overview/.

The Township of Terrace Bay is the municipal government for Terrace Bay, a community on the north shore of Lake Superior in Northwestern Ontario. Through its municipal leadership and economic development work, the Township supports residents, workers, entrepreneurs, and local employers while helping position the community for long-term resilience and growth. Terrace Bay has historically relied on the forestry sector, with the local pulp mill serving as a cornerstone of the economy for decades. Following the closure of the AV Terrace Bay pulp mill in January 2024, the Township has emphasized economic diversification and transition planning. Its public economic development materials highlight priority opportunities in tourism, renewable and clean energy, and small business development. The Township also promotes direct support for businesses and entrepreneurs by helping them identify grants, low-interest loans, and advisory services. Its business support resources point users toward partner organizations and funding programs such as NOHFC, FedNor, Superior North CFDC, BDC, PARO, and other regional business support networks. Terrace Bay has also participated in local response efforts such as the Terrace Bay Action Centre, created to support displaced workers and community adjustment following the mill closure. Taken together, these actions position the Township of Terrace Bay as a municipal provider that facilitates access to business support, funding pathways, economic development services, and community transition resources.