How much funding can be received?

If you are expanding your existing business operations in Northern Ontario, you can apply for funding in the form of a contribution up to $400,000 to cover 20% of the project costs, with an optional term loan of up to $600,000 to cover an additional 30% o

grant_single_labels|projects

This grant is specifically available to businesses located in Northern Ontario. The aim is to foster economic growth in this particular region.

Northern Ontario

grant_single|admissibleProjectsExample

$50,000

Sault Ste. Marie

Developing a marketing campaign for a new product in Sault Ste Marie

$100,000

Sudbury

Purchase of new CNC machinery for wood manufacturing

$30,000

Kenora

Training program for new software implementation

$60,000

North Bay

Implementing a new ICT system for service provision

$40,000

Thunder Bay

Expansion of office space with leasehold improvements

$80,000

Timmins

Land servicing for a new agricultural facility

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.

Businesses must be expanding existing operations in Northern Ontario.
The project must result in full-time equivalent job creation or retention in Northern Ontario.
The applicant must secure the balance of funding/financing necessary to implement the project.
The business activities must not unreasonably impact existing Northern Ontario businesses.
The project must demonstrate net economic benefits for Northern Ontario.

grant_eligibility_criteria|who_can_apply

Businesses located in Northern Ontario seeking to expand their existing operations are eligible to apply for the Investment – Grow Stream under the NOHFC's Invest North program. The program is specifically designed for such businesses aiming to undertake projects like capital construction, equipment acquisition, marketing initiatives, and workforce training to foster growth and economic development in the region.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries from eligibility due to their status or main activity. These restrictions are in place to ensure support is directed toward sustainable and impactful business expansions in Northern Ontario.

Retail and consumer service businesses providing products and services directly to individuals.
Accommodation and food service businesses and related business activities.
Businesses primarily involved in wholesale activities.
Beverage alcohol manufacturing companies, including spirit distilleries, breweries, wineries, and cideries.
Projects involving land development for re-sale or lease.
Tourism businesses serving only the overnight travelling public, such as hotels and motels.
Projects related to electricity generation.

grant_eligibility_criteria|eligible_expenses

This grant supports businesses in Northern Ontario to expand their operations through targeted investments. Eligible projects focus on infrastructure improvements, equipment acquisition, and strategic marketing initiatives.

Capital construction projects to enhance operational capacities.
Leasehold improvements to existing facilities.
Purchase of new or used equipment, including capital leases.
Servicing costs related to land development.
Investments in information and communications technology (ICT).
Marketing initiatives for new products and business expansions (capped at 20% of other eligible costs or $75,000, whichever is less).
Third-party training programs (capped at 20% of other eligible project costs).

grant_eligibility_criteria|zone

The grant covers specific expenses crucial for expanding business operations in eligible sectors in Northern Ontario.

Capital construction.
Leasehold improvements.
Purchase of new or used equipment, including capital leases.
Land servicing costs.
Information & communications technology (ICT) investments.
Marketing new products and business initiatives (capped at 20% of other eligible project costs or $75,000, whichever is lower).
Third-party training costs (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 assess the potential economic benefits and feasibility of the proposal.

Job creation potential of the project.
Level of investment from other sources secured by the applicant.
Strength and viability of the applicant’s detailed business plan.
Assessment that the project does not unreasonably impact existing Northern Ontario businesses.
Net economic benefits provided to Northern Ontario.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Determine Eligibility
- Review eligibility criteria to confirm your business project qualifies for the grant.
Step 2: Develop a Detailed Business Plan
- Prepare a comprehensive business plan that outlines your expansion project, investment requirements, and expected outcomes.
- Ensure the plan addresses job creation, investment levels, and net economic benefits for Northern Ontario.
Step 3: Compile Required Documentation
- Gather supporting documents including project budgets, financial statements, and any other relevant information required by the NOHFC.
Step 4: Submit the Application
- Prepare to submit your application in accordance with the specified deadlines (April 30, July 31, October 31, or January 31).
- Visit the NOHFC's official website or portal to upload your completed application and business plan.
Step 5: Confirmation of Submission
- After submission, receive a confirmation acknowledgment from NOHFC, including any reference or application number for tracking purposes.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The maximum combined federal and provincial funding for private sector projects, including NOHFC contributions, may not exceed 50% of eligible project costs.
Applicants can appeal and reapply for funding in one future round of applications if their initial application is unsuccessful.
Secured loans above $250,000 necessitate the retention of legal services by the applicant.

grant_single_labels|contact

807-475-1648

Apply to this program

Funding for Business Expansion in Northern Ontario

The NOHFC’s Investment – Grow Stream grant offers financial assistance for businesses aiming to expand their operations in Northern Ontario. By focusing on projects that promise economic development and job creation, the program seeks to drive regional prosperity and support sustainable growth.

Detailed Overview of the NOHFC’s Investment – Grow Stream Grant

The Northern Ontario Heritage Fund Corporation (NOHFC) presents a unique opportunity for businesses seeking to expand in Northern Ontario through its Investment – Grow Stream program. Designed to bolster regional growth and economic vitality, the program provides funding in various forms, including conditional contributions and term loans, tailored to meet the unique needs of each project while aligning with strategic economic objectives for the area.

Eligible projects may include capital construction, leasehold improvements, and equipment purchases, crucial for businesses looking to scale. The grant supports key investments in information and communications technology (ICT), marketing for new products, and requisite training from third-party agencies. However, the program carefully outlines exclusions to ensure resources are dedicated to impactful projects that enhance the community’s economic fabric.

Applications undergo rigorous evaluation based on several criteria such as job creation potential, investment from other secured sources, and the robustness of the business plan. The overarching goal is not only to fund projects with substantive economic impact but also to ensure that they complement rather than undermine existing regional enterprises.

Given the competitive and selective nature of the grant process, companies must submit thorough business plans by set deadlines, with rounds occurring four times a year. The first step is demonstrating compelling economic benefits and sustainability within Northern Ontario’s economic ecosystem. Interested businesses are cautioned to avoid applying for ineligible uses such as retail ventures, ongoing operational costs, and certain types of service industry businesses.

It’s critical that grant applicants secure additional funding to meet the complete financial requirements of their projects, highlighting the importance of a sound funding strategy parallel to the NOHFC contribution. The program’s framework includes clear guidelines on financial structures, with NOHFC funding not to surpass 50% of project costs alongside other governmental supports.

Moreover, the NOHFC emphasizes that projects should not only create full-time employment opportunities but also integrate seamlessly into Northern Ontario’s economic landscape. The supporting documentation and project plans will be subject to detailed scrutiny by the NOHFC Board, emphasizing the need for applicants to present well-conceived, innovative projects that promise a substantial economic return to the region.

Successful engagement with the Investment – Grow Stream grant can position businesses as leaders in regional economic development, offering the assurance that their growth efforts are backed by sound fiscal support and economic facilitation. It’s a strategic initiative encouraging enterprises to contribute significantly to the economic upliftment of Northern Ontario, ensuring that growth and prosperity are shared benefits across communities, businesses, and residents alike.