Ontario’s Rural Economic Development (RED) Fund is a grant program for companies of all types located in municipalities with less than 100,000 people or in rural areas throughout the province. There is rural economic development funding for a variety of projects in most Canadian provinces, this blog focuses on the Ontario program.
There is a map on the RED Ontario Government website to determine if your area is covered by this grant program. (links below)
Projects that are eligible include those which foster business or sector development and diversification as well as those that support workforce attraction, retention and development.
How much funding is available?
“Under the Business Development Stream, the Province of Ontario may provide up to 20 per cent of the project’s eligible cost, to a maximum total amount of $1 million.”
What projects have they been approving?
Business modernization and productivity enhancements, especially those which will allow rural companies access to new markets are being approved. Under eligible projects they state that minor capital investments are being covered including “Technology upgrades such as computer hardware, software and network cables”. ERP and handheld warehouse management software has been funded, including training of employees.
How long do I have to apply?
The grant will be open for applications until January 15, 2017.