INVEST North Program — Investment – Locate Stream

• Detailed business proposal, if invited after initial review.

Who is eligible?

• Businesses locating new business operations to Northern Ontario
• Many tourism businesses that offer accommodation may qualify, including businesses that serve as destinations for visitors who stay for longer periods, such as remote outfitters and family vacation resorts

Who is not eligible

• Retail and consumer service businesses that primarily earn revenue by providing products and services directly to individuals
• Food service businesses and related business activities
• Businesses that are primarily involved in wholesale activities
• Beverage alcohol manufacturing companies, including spirit distilleries, breweries, wineries and cideries
• Businesses that mainly provide overnight stays for travelers, such as hotels and motels

Eligible expenses

• Capital construction and leasehold improvements
• New or used equipment, including capital leases
• Land servicing costs
• Information & communications technology (ICT) investments
• Marketing for new products and business initiatives, limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less, and training costs incurred with third parties, limited to a maximum of 20% of all other eligible project costs

Ineligible Costs and Activities

• Ongoing operating costs including maintenance, in-kind contributions, working capital, and cost of inventory
• Restructuring or refinancing of existing business operations, and acquisitions and buy-outs of existing businesses
• Business plans, strategic plans, feasibility studies, research and development, and project management, consulting, or administration costs
• Land purchase or lease, assets acquired through operating leases, rolling stock (e.g. cars, trucks & boats and motors), and cellular and internet service projects
• Commercial and industrial land or building development for resale or lease, projects that only cover site servicing or site development costs, capital projects or leasehold improvements to residential or personal properties, mineral exploration, mine development and milling operations, and electricity generation projects

• Expected job creation associated with the new Northern Ontario operations.
• Amount and reliability of investment and financing secured from other sources by the applicant.
• Strength, clarity and completeness of the applicant’s detailed business plan.
• Extent to which the project does not unreasonably impact or displace existing Northern Ontario businesses.
• Overall net economic benefits and development advantages the project will generate for Northern Ontario.

• Schedule a pre-application consultation with NOHFC by calling 1-800-461-8329.
• Work with the assigned team member to complete the pre-consultation process.
• Submit an initial online application after the consultation.
• If the project meets the program guidelines, submit a detailed business proposal when requested.

• NOHFC reviews the initial application to determine whether the project meets the program guidelines.
• If the project is eligible, the applicant is notified and asked to submit a detailed business proposal.
• NOHFC may gather additional information on the project and review it in greater detail during evaluation.
• NOHFC shares its review with the Board of Directors, which makes the final decision on the application.
• If funding is provided by way of a secured loan or a secured loan and conditional contribution, the applicant must retain a lawyer to provide a legal opinion and complete the legal work required for the transaction.

• The program may make exceptions to certain eligibility rules for projects that address a priority economic need in Northern Ontario, at the discretion of the NOHFC Board of Directors.
• The applicant is expected to secure the remaining financing required to complete the project beyond any support approved by NOHFC.
• The applicant may be required to repay NOHFC if assets financed through this program are sold after the project is completed.
• Limited funds are available and funding decisions are made by the NOHFC Board of Directors, so not all applications that meet the guidelines will receive support.