INVEST North Program — Investment — Grow Stream
ON, Canada
Financial help to grow a business in Northern Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateNovember 01, 2023
- grant_single|closingDateJanuary 31, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Construction
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Other services (except public administration)
grant_single|grantors
- Northern Ontario Heritage Fund Corporation (NOHFC)
- Government of Ontario
grant_single|status
grant_card_status|closed
grant_single_labels|preview
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
Eligible projects and activities for this grant include:
- Capital construction
- Leasehold improvements
- New or used equipment including capital leases
- Land servicing costs
- Information & communications technology (ICT) investments
- Marketing for new products and business initiatives
- Training costs incurred with third parties
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 Criteria:
- Businesses expanding existing operations in Northern Ontario.
- Projects must include job creation, secure investment from other sources, have a detailed business plan, and provide net economic benefits for Northern Ontario.
- Additional business activities that benefit Northern Ontario may be considered.
- Exceptions may be made for projects addressing priority economic needs in Northern Ontario.
grant_eligibility_criteria|who_can_apply
Yes, professional service businesses expanding operations to small communities with no existing full-time service provider or creating new services, processes, or products that do not exist in Northern Ontario are eligible for funding under the Invest North Program – Grow Stream.
- Professional service businesses expanding to underserved small communities
- Professional service businesses introducing new services, processes, or products in Northern Ontario
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant. Beverage alcohol manufacturing companies, including spirit distilleries, breweries, wineries, and cideries are not considered eligible under the NOHFC’s INVEST North Program – Launch, Grow, or Locate Streams.
- Retail and consumer service businesses
- Accommodation & food service businesses
- Businesses primarily involved in wholesale activities
- Businesses focused on research and development
- Mineral exploration, mine development, and milling operations
- Electricity generation projects
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include capital construction, leasehold improvements, new or used equipment, land servicing costs, information & communications technology investments, marketing for new products, business initiatives, and training costs incurred with third parties.
- Capital construction
- Leasehold improvements
- New or used equipment including capital leases
- Land servicing costs
- Information & communications technology (ICT) investments
- Marketing for new products and business initiatives
- Training costs incurred with third parties
grant_eligibility_criteria|zone
Many types of companies are not eligible for this grant, including retail and consumer service businesses, businesses primarily involved in wholesale activities, and businesses in the accommodation and food service sector.
- Retail and consumer service businesses
- Businesses primarily involved in wholesale activities
- Accommodation and food service businesses
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria include factors such as job creation, investment leverage, strength of the business plan, and net economic benefits for Northern Ontario.
- Job creation
- Level of investment leverage from other sources
- Strength of the applicant's detailed business plan
- Impact on existing Northern Ontario businesses
- Net economic benefits for Northern Ontario
- Other strategic activities that provide economic development advantage for Northern Ontario may be considered
grant_single_labels|register
- Prepare a detailed business plan that meets the requirements outlined in the NOHFC's Invest North - Grow stream guidelines.
- The business plan should clearly articulate the project goals, financial information, job creation plans, and other relevant details.
- Ensure the business plan aligns with the evaluation criteria set by the NOHFC.
- Submit the detailed business plan by the deadline of the relevant application intake round.
- Round 1: Deadline of April 30
- Round 2: Deadline of July 31
- Round 3: Deadline of October 31
- Round 4: Deadline of January 31
- Wait for the evaluation of the application by the NOHFC Board of Directors.
- Factors such as job creation, investment from other sources, and the strength of the business plan will be considered.
- The Board may also assess the economic benefits for Northern Ontario and the potential advantage for economic development.
grant_single_labels|contact
807-475-1648
Apply to this program
Invest North - Grow Stream Grant Summary
This grant stream, part of the NOHFC's Invest North Program, supports businesses in Northern Ontario looking to expand existing operations. Eligible projects include capital construction, equipment acquisition, ICT investments, and job creation, with funding options ranging from conditional contributions to term loans.
Invest North - Grow Stream Detailed Overview
The Invest North - Grow Stream under the NOHFC's Investment program targets businesses in Northern Ontario seeking to grow their operations. Eligible projects encompass a variety of activities including capital construction, leasehold improvements, equipment purchases, land servicing costs, ICT investments, and marketing initiatives. Notably, the grant emphasizes job creation and economic development in Northern Ontario.
Applicants must submit detailed business plans for evaluation, with key criteria such as securing additional investment, economic benefits for the region, and minimal impact on existing businesses. The program offers funding options through conditional contributions and term loans, with specific limits and eligibility requirements. Successful applicants will need to demonstrate their ability to secure the remaining project financing.
While the program excludes certain types of projects like retail businesses, ongoing operating costs, and research and development, it provides flexibility for projects addressing priority economic needs in Northern Ontario. Professional service businesses, tourism businesses meeting specific criteria, and projects that introduce new services or expand to underserved communities may qualify for funding.
Participating businesses are expected to contribute to job creation or retention in the region, ensuring a positive impact on the local economy. Grant recipients may need to reimburse funds if assets financed by the NOHFC are sold after project completion. The NOHFC Board of Directors holds multiple application intake rounds throughout the year, allowing businesses to reapply if not successful in previous rounds.
Overall, the Invest North - Grow Stream grant provides a valuable opportunity for businesses in Northern Ontario to expand, invest in infrastructure, and drive economic growth in the region. By aligning with the program's evaluation criteria and funding options, businesses can leverage this support to achieve their growth objectives and contribute to the development of Northern Ontario.
