Southwestern Ontario Development Fund — Community economic development projects
At a glance
- Max. $1,500,000
- 50% of project cost
- Open Date : April 27, 2023
- All industries
- Government of Ontario
Overview
Eligibility criteria
The Southwestern Ontario Development Fund provides support for business and community economic development projects in southwestern Ontario. To be eligible for this grant, businesses need to have at least 3 years of operations/financial statements, employ at least 10 people (or 5 in rural Ontario), commit to creating at least 5 new jobs, and invest at least $500,000 in their project.
- Businesses must have at least 3 years of operations/financial statements.
- Employ at least 10 people (or 5 in rural Ontario).
- Commit to creating at least 5 new jobs.
- Invest at least $500,000 in their project.
Who is eligible
There are eligible types of companies for the Southwestern Ontario Development Fund grant. Businesses that have at least 3 years of operations, employ at least 10 people (or 5 in rural Ontario), commit to creating at least 5 new jobs, and invest at least $500,000 in their project are eligible.
- Companies with at least 3 years of operations/financial statements
- Companies that employ at least 10 people (or 5 in rural Ontario)
- Businesses committing to creating at least 5 new jobs
- Businesses investing at least $500,000 in their project
Eligible expenses
Eligible expenses for the Southwestern Ontario Development Fund grant include project costs directly related to business expansion, innovation, skills development, and job creation. These costs may include but are not limited to:
- Investment in new equipment
- Research and development expenses
- Training and skill development programs
- Marketing and sales initiatives
- Expansion of facilities or infrastructure
Eligible projects & activities
There are eligible projects for the Southwestern Ontario Development Fund grant:
- Business projects that focus on growing businesses, improving productivity, investing in innovation and skills development, pursuing new markets, generating positive regional economic impact, and creating new sustainable jobs.
- Community economic development projects that are led by municipalities, economic development organizations, or sector organizations, and focus on economic and business development, job creation, infrastructure investment, or regional economic priorities.
Eligible geographic areas
There are eligible geographic areas for this grant in Southwestern Ontario. The fund covers the following 18 geographic areas:
- Brant
- Bruce
- Chatham-Kent
- Dufferin
- Elgin
- Essex
- Grey
- Haldimand
- Huron
- Lambton
- Middlesex
- Niagara
- Norfolk
- Oxford
- Perth
- Simcoe
- Waterloo
- Wellington
Evaluation & selection criteria
The evaluation and selection criteria for the Southwestern Ontario Development Fund grant are as follows:
- Alignment with the fund’s goals of investment attraction and job creation in the region
- Provide economic benefits such as creating jobs, contributing to the region, or developing the sector
- Achievability, including having the necessary financing, project management structure, and experience to implement the project
How to apply
- Step 1: Complete the online self-assessment tool.
- Step 2: Contact a regional advisor for help with your application.
- Step 3: Register for Transfer Payment Ontario (TPON).
- Step 4: Work with your regional advisor to complete the application form and submit it on TPON along with the required supplemental information.
Southwestern Ontario Development Fund Summary
The Southwestern Ontario Development Fund provides financial support and services to businesses, municipalities, and not-for-profit organizations in southwestern Ontario to aid in economic development, job creation, and investment attraction, with a focus on growth, innovation, and regional economic impact.
Southwestern Ontario Development Fund Detailed Description
The Southwestern Ontario Development Fund is a government initiative aimed at fostering economic growth and development in the southwestern region of Ontario. The fund offers support to existing businesses, municipalities, and not-for-profit organizations to encourage investments that lead to job creation, productivity improvements, innovation, and market expansion. Businesses with a minimum of 3 years of operations, committing to creating new jobs and making substantial investments in their projects, are eligible for funding, loans, and grants. Community economic development projects led by municipalities and organizations can also benefit from the fund by investing in infrastructure and implementing strategies that advance regional economic priorities.
Applicants are required to meet certain criteria regarding employment, investment, and project objectives to be eligible for funding. The fund aims to support projects that align with its goals of attracting investment, creating jobs, and providing economic benefits to the region. Successful projects need to demonstrate their feasibility, economic impact, and alignment with the fund's objectives. The application process involves consultation with regional advisors, application submission through Transfer Payment Ontario, and assessment based on project merit and contribution to the region's economic development.
The program offers funding support for business projects, including grants, loans, and complementary services, while community economic development projects can receive grants of up to 50% of eligible project costs. The fund's geographic scope covers 18 areas in southwestern Ontario, with specific eligibility criteria and restrictions for different types of projects. Overall, the Southwestern Ontario Development Fund serves as a valuable resource for businesses and organizations seeking financial assistance to fuel growth, innovation, and job creation in the region.
