INVEST North Program — Investment - Locate Stream
ON, Canada
The Locate Stream program supports new business setups in Northern Ontario with funding up to $5 million, focusing on infrastructure and technology investments to stimulate economic growth.
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- grant_single|projectCostPercent
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- grant_single|timelineUnspecified
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Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
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- Northern Ontario Heritage Fund Corporation (NOHFC)
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grant_card_status|open
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The Investment - Locate Stream of NOHFC assists businesses setting up new operations in Northern Ontario by providing up to $5 million in funding through conditional contributions or loans. Eligible projects include infrastructure development, equipment procurement, and ICT investments. Applications undergo an evaluation focusing on job creation, economic impact, and the strength of the business plan.
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This grant is specifically targeted at companies locating new business operations in Northern Ontario. Eligible geographical areas are focused on this particular region to promote economic development.
- Businesses relocating to Northern Ontario.
grant_single|admissibleProjectsExample
$3,500,000
Launch a new tech innovation hub in Sault Ste Marie
$1,300,000
Open a new artisan bakery and café
$1,300,000
Start a community arts center to support local artists
$3,000,000
Develop a new eco-friendly packaging plant
$1,400,000
Expand a local brewery by adding a new bottling line
$1,200,000
Establish a cooperative organic farm
grant_single_labels|admissibility
Eligibility for the Investment – Locate Stream grant requires businesses to meet specific criteria related to their operations and impact in Northern Ontario.
- The business must be locating new business operations to Northern Ontario.
- The business must demonstrate job creation and provide net economic benefits for Northern Ontario.
- The business should secure investment from other sources as part of the project funding.
- The business plan should not adversely impact existing businesses in Northern Ontario.
- The project should not fall under excluded categories such as retail, consumer service businesses, or certain others outlined in the guidelines.
- Applicants are required to have a pre-application consultation session with NOHFC staff.
grant_eligibility_criteria|who_can_apply
Businesses locating new business operations to Northern Ontario are eligible to apply for the Invest North - Locate Stream. This includes businesses starting up, expanding existing operations, or moving new business operations to Northern Ontario. To qualify for consideration, the project must aim at establishing presence in Northern Ontario, thereby contributing positively to the Northern Ontario economy with a focus on sectors and types that do not negatively impact existing businesses in the area.
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This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives in Northern Ontario.
- Retail and consumer service businesses primarily serving individual consumers.
- Accommodation & food service businesses, and related activities focused on short-term lodging.
- Businesses involved in wholesale activities.
- Beverage alcohol manufacturing companies, including spirit distilleries, breweries, wineries, and cideries.
- Tourism businesses serving primarily the overnight traveling public, such as hotels and motels.
- Projects involving the development, resale, or leasing of commercial and industrial lands.
grant_eligibility_criteria|eligible_expenses
This grant focuses on supporting businesses in Northern Ontario through various eligible project activities. It aims to foster economic growth by assisting with substantial investments in infrastructure, technology, and workforce development.
- Capital construction projects to establish new business facilities.
- Leasehold improvements to adapt rented spaces for new operations.
- Acquisition of new or used equipment, including those under capital leases.
- Land servicing costs to prepare sites for business use.
- Investments in Information & Communications Technology (ICT).
- Marketing activities for new products and business initiatives, subject to funding limits.
- Training costs with third-party providers, also subject to funding limits.
grant_eligibility_criteria|zone
The grant covers specific expenses related to establishing business operations in Northern Ontario.
- Capital construction expenses.
- Leasehold improvements.
- Purchase of new or used equipment, including capital leases.
- Land servicing costs.
- Information and communications technology (ICT) investments.
- Marketing costs for new products and business initiatives (limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less).
- Training costs incurred with third parties (limited to a maximum of 20% of all other eligible project costs).
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on specific criteria that highlight their potential contribution to the economic development in Northern Ontario.
- Job creation potential of the project.
- Level of investment from other sources secured by the applicant.
- Strength and comprehensiveness of the applicant’s business plan.
- Net economic benefits the project will bring to Northern Ontario.
- Consideration of whether the project unreasonably impacts existing Northern Ontario businesses.
grant_single_labels|register
- Step 1: Preliminary Consultation
- Contact NOHFC to schedule a pre-application consultation at 1-800-461-8329.
- Engage with a Ministry of Energy, Northern Development and Mines (ENDM) staff member who will assist with the pre-consultation process.
- Step 2: Initial Application Submission
- Complete and submit the initial application online via the NOHFC portal.
- Ensure that your project complies with the program guidelines for eligibility.
- Step 3: Detailed Business Proposal
- Upon initial eligibility confirmation, prepare a detailed business proposal for your project.
- Include comprehensive business plans, financial projections, and any other required documentation.
- Step 4: Submit Final Proposal
- Submit the detailed business proposal and supporting documents through the NOHFC portal.
- Review the submission guidelines to ensure all requirements are met.
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Here are additional relevant details for this grant:
- Before applying, a pre-application consultation with NOHFC staff is mandatory.
- The maximum combined funding from federal and provincial sources is limited to 50% of eligible project costs.
- The applicant is responsible for securing the remaining financing needed to implement the project.
- There is limited funding available, and meeting eligibility criteria does not guarantee funding.
- Funding is tailored based on the project's net economic benefit to Northern Ontario.
- The applicant may need to reimburse NOHFC if assets financed by the NOHFC are sold post-project completion.
grant_single_labels|contact
1-800-461-8329
Apply to this program
Maximize Your Business Growth in Northern Ontario
The Invest North - Locate Stream offers substantial funding opportunities for businesses seeking to establish operations in Northern Ontario. This program is tailored to support new ventures with the potential to enhance economic vitality in the region.
Detailed Insights into Invest North: Strategic Funding for Northern Ontario Businesses
The Invest North - Locate Stream is an integral part of efforts to stimulate economic growth in Northern Ontario by encouraging new businesses to set up operations in the area. Tailored for organizations aiming to invest and grow, this initiative prioritizes projects that promise job creation and significant economic benefits for the community. With a potential funding cap at $5 million, the program provides financial support through conditional contributions or combinations of contributions and term loans, determined by the specific economic impact projected for the region.
Eligible project expenses cover a wide range of strategic investments, including capital construction, leasehold improvements, equipment acquisitions, and ICT investments. Marketing initiatives and comprehensive third-party training are also considered, offering businesses a fundamental boost in venturing into new product lines or expanding their market footprint. Applicants are encouraged to leverage additional investment sources, as federal and provincial funding combined should not surpass 50% of eligible project expenses.
One primary component of the application process is a mandatory pre-application consultation with the NOHFC staff. This consultation is crucial as it provides applicants with valuable insights and guidance on how to align proposals with program goals and maximize funding potential. Businesses that succeed in obtaining this grant need to present a strong business plan, secure complementary investments, and ensure that their projects bring substantial net economic benefits to Northern Ontario without adversely affecting existing local businesses.
The evaluation criteria focus on measurable impacts, such as job creation and the caliber of the business plan. Projects considered must not unreasonably impact existing businesses and should demonstrate clear economic advantages, positioning Northern Ontario as a lucrative business environment. For projects that address a significant regional economic need, some flexibility in eligibility criteria may be applied at the discretion of the NOHFC Board.
On the other hand, certain business activities and project costs are deemed ineligible, such as retail operations, ongoing operational expenses, and projects already primarily focused on wholesale activities. Understanding these constraints will help businesses efficiently plan their project applications and avoid unnecessary expenditures of time and resources on disqualified activities.
Ultimately, the Invest North - Locate Stream serves as a beacon for prospective businesses looking to establish a foothold in Northern Ontario's vibrant economic landscape. By providing strategic funding and fostering an encouraging entry environment, this program not only aims to boost individual business success but also seeks to drive regional economic development, creating a more dynamic and diverse economic ecosystem in Northern Ontario.
