How much funding can be received?

The Imagination, Manufacturing, Innovation and Technology (IMIT) Program in Toronto aims to reduce business costs by supporting new building construction and/or expansions in targeted sectors and areas across the city. Eligible developments can benefit from a grant of 60% of the increase in municipal taxes attributable to the development over a 10-year period, which can be enhanced to 70% for targeted areas. The program also requires collaboration with the City to promote local employment through a points-based system.

grant_single_labels|projects

This grant is available to companies located within the City of Toronto's designated areas. The eligible locations are strategically chosen to align with the city's development and economic priorities.

Entire City of Toronto within the Community Improvement Project Area.
Urban Growth Centre identified on Map 2 of the Toronto Official Plan, excluding Downtown and Central Waterfront.

grant_single_labels|admissibility

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

Applications must be submitted prior to issuance of the first above grade building permit for the development.
The development must be in an eligible sector or use.
There must be an increase in the amount of ground floor area (GFA) for Eligible Uses by at least 500 square metres or, in the case of office buildings, at least 5,000 square metres, including contiguous office uses within a mixed-use building.
The property must not be in arrears of property taxes or other fees and charges.
The owner must develop an employment plan to support local hiring and/or training.
If the estimated construction value exceeds $150,000,000, the application will require City Council approval.
Construction must conform to all City by-laws, policies, processes and permits and demonstrate investment value of at least $3 million for eligible uses as evidenced on the main building permit.
The development must meet minimum Tier 1 Toronto Green Standard, except that all office developments must conform, at a minimum, to the Tier 2 requirements.
The development must not be demolished or converted to an ineligible use over the term of the incentive.
The applicant must be the owner of the property or their designated agent.
The applicant must agree to meet annual reporting requirements.

grant_eligibility_criteria|who_can_apply

This grant is available to businesses involved in specific sectors and eligible developments in Toronto, aiming to stimulate economic growth and job creation through strategic infrastructure development.

Call Centres engaged in various telecommunication activities.
Companies specializing in Computer Systems Design and Services.
Businesses involved in Information Services and Data Processing.
Office Buildings with stipulations based on location and size requirements.
Scientific and software-focused Research and Development entities.
Software Development organizations and Tourism Attractions with significant visitor potential.
Biomedical operations and Convergence Centres fostering sector collaboration and development.
Creative Industries and Film Studio Complexes engaged in cultural and media productions.
Manufacturing and Food and Beverage Wholesaling enterprises.
Incubators promoting entrepreneurship and small business growth.

grant_eligibility_criteria|who_cannot_apply

This grant focuses on promoting growth in specific sectors, and as such, certain companies and industries may not be eligible due to their primary activities or location within non-designated areas.

Companies located within the Downtown and Central Waterfront areas.
Retail operations or warehouse clubs, even if ancillary to the main use.
Doctor's offices, clinics, diagnostic labs, or hospitals related to patient health care.
Live/work units in creative industries.

grant_eligibility_criteria|eligible_expenses

Eligible projects for this grant focus on new building construction and expansion within specific sectors and areas in Toronto. The activities aim to support various industries by reducing business costs and enhancing growth opportunities.

Call Centres operations expansion.
Computer Systems Design and Services development.
Information Services and Data Processing establishment.
Office Building development outside the Financial District.
Scientific Research and Development projects.
Software Development initiatives.
Tourism Attractions development, excluding stadiums and arenas.
Transformative Projects meeting set criteria.
Biomedical Operations activities.
Convergence Centres establishment focusing on sector development.
Creative Industries projects.
Film Studio Complex development with specified GFA.
Food and Beverage Wholesaling without direct public sales.
Incubators for start-up support and development.
Manufacturing projects.

grant_eligibility_criteria|zone

The IMIT Program does not explicitly list eligible expenses but focuses on developments that qualify for municipal tax increment grants based on increased construction investments.

Expenses related to increasing ground floor area (GFA) for eligible uses by at least 500 square metres, or for office buildings by at least 5,000 square metres.
Conforming to all City by-laws, policies, processes, and permits, including construction investment valued at a minimum of $3 million for eligible uses.
Meeting the minimum Tier 1 Toronto Green Standard or Tier 2 requirements for office developments.

grant_single_labels|criteria

The evaluation and selection of projects for the IMIT grant program are based on specific criteria to ensure alignment with the objectives of reducing business costs through new construction or expansion in targeted sectors.

Collaboration with the City to promote local employment through a comprehensive local employment plan.
Detailed business plan demonstrating financial viability and necessity of grant for development.
Adherence to City by-laws, policies, and permits throughout construction.
Commitment to meet Toronto Green Standard Tier 1 (or Tier 2 for office developments).
Development located within designated Urban Growth Centres for enhanced grant eligibility.
Reporting outcomes of local hiring and training initiatives through online systems.

grant_single_labels|register

Step 1: Initial Contact
- Contact Program Manager Julia Rigato by email at incentives@toronto.ca or by phone at 416-392-0466.
- Discuss your proposed development to determine eligibility and gather information on the application process.

grant_single_labels|otherInfo

The IMIT program includes administration fees and specific application processes for potential recipients.

A program administration fee of 30 cents per square metre of eligible gross floor area will be charged annually for the grant period.
Eligible applicants should contact Program Manager Julia Rigato at incentives@toronto.ca or by phone at 416-392-0466 to discuss their proposed development.

grant_single_labels|contact

incentives@toronto.ca

416-392-0466

Apply to this program

Unlock Substantial Incentives for Business Expansion in Toronto

The Imagination, Manufacturing, Innovation, and Technology (IMIT) Program offers lucrative tax-based incentives to businesses undertaking new construction or expansion projects in Toronto's designated sectors and areas. Designed to reduce operational costs, this grant mechanism supports key industries by providing significant property tax benefits over a decade, further extending in combination with Brownfield Remediation Tax Assistance.

Detailed Insights into the IMIT Program and Its Economic Benefits

The IMIT Program, as endorsed by Toronto City Council, is a pivotal initiative aimed at encouraging economic growth through incentivizing large-scale commercial development within strategic sectors. With a focus on fostering growth in areas such as biomedical operations, film studios, creative industries, and manufacturing, the program offers up to a 77% property tax increment grant over twelve years for eligible projects. This is achieved through a structured rebate of the municipal tax increment resulting from site improvements or expansions.

Key eligibility criteria are clearly outlined to ensure that applicants are well-prepared to meet program requirements. Projects must significantly expand or enhance the designated use floor area, and applicants are expected to collaborate with the City to establish a local employment plan, supporting local hiring and training through City-sponsored programs. This initiative not only boosts local job creation but also ensures that businesses contribute to the broader economic landscape of the region.

The program's flexibility is further exemplified through its tiered points-based system for local employment plans, which enables businesses to select from approved City-endorsed activities for job enhancement goals proportional to their received grant. Outcomes from these initiatives are transparently reported to ensure compliance and effective employment strategies.

Designed with the goal of long-term sustainability, the IMIT Program also incorporates minimal environmental standards, requiring adherence to the Toronto Green Standard, which champions environmentally sustainable building designs. This requirement demonstrates the city's commitment to sustainable urban development while encouraging businesses to align with global sustainability benchmarks.

To maintain the efficiency and responsiveness of the Program, a modest administration fee is charged annually, reinforcing the program's capacity to serve emerging business needs within the community. Prospective applicants are encouraged to engage with the program officer to discuss eligibility and application processes, thereby securing a pathway for beneficial collaborations with the City.

The IMIT Program, with its comprehensive approach to business growth and sustainability, addresses both the economic and environmental priorities of the city. By investing in infrastructure and incentivizing industry leaders, it acts as a catalyst for innovation and regional development. As Toronto anticipates further evaluations and possible enhancements under future council reviews, businesses are urged to seize the current opportunities offered by the IMIT Program, thereby contributing to the vibrant dynamism of Toronto's economic ecosystem.