INVEST North Program. Investment – Grow Stream

The Grow stream is designed to assist with the growth and expansion of existing businesses in Northern Ontario.

The Invest North Program is designed to boost economic growth in Northern Ontario by encouraging businesses to invest in transformative, strategic and complementary business development opportunities in Northern Ontario communities. The program will support productivity, innovation, business competitiveness, revenue growth, export capacity development, job creation and retention.

The Grow program is designed to assist with the growth of existing businesses in Northern Ontario.

Funding

Funding can be provided through three options:

• Up to 20% of eligible costs covered, with a maximum of $400,000, as a conditional contribution.
• Up to 20% of eligible costs covered, with a maximum of $400,000, plus a loan for up to 30% of eligible costs, with a $600,000 limit.
• A loan covering up to 50% of eligible costs, with a maximum of $1,000,000.

Eligibility

Businesses growing their existing business operations in Northern Ontario are eligible to apply.

Applications under the NOHFC’s Invest North – Grow stream will be evaluated in competitive rounds.

• Round 1: Detailed business plan submission deadline April 30.
• Round 2: Detailed business plan submission deadline July 31.
• Round 3: Detailed business plan submission deadline October 31.
• Round 4: Detailed business plan submission deadline January 31.

Before you begin, check if you fall within the eligible region of Northern Ontario.

check regional eligibility

What is eligible?

Eligible projects, activities and associated costs include, but are not limited to:

• Building construction
• Upgrading leased spaces
• Buying new or used equipment
• Land development costs
• Investments in IT and communications
• Marketing new products or businesses (up to 20% of eligible costs or $75,000)
• Third-party training costs (up to 20% of project costs)

Funding for each project is determined by the NOHFC Board of Directors, and limited funding is available. Not all projects meeting the criteria will necessarily receive funding.

What is not eligible?

Project costs that are not eligible include, but are not limited to:

• Retail and consumer service businesses that primarily earn revenue by providing products and services directly to individuals
• Ongoing operating costs including maintenance
• In-kind contributions
• Restructuring or refinancing of existing business operations
• Accommodation & food service businesses
• Land purchase/lease
• Working capital

For a more comprehensive list of ineligible project costs, view our full program guidelines.

Process

Applications to the Northern Ontario Heritage Fund Corporation take the following path:

Apply

Submit your application and we’ll review it and make sure your project meets our program guidelines.

Evaluation

We’ll get some additional information on your project and review it in greater detail.

Decision

We’ll share our review with our board of directors, who will make the final decision on your application.

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