Northern Development officer Jane Gillon will give local business owners information on six new funding programs for the private-sector during the Fort Frances Chamber of Commerce’s monthly luncheon tomorrow.
The luncheon starts at 11:45 a.m. at the Rainy Lake Hotel.
There is no charge to attend this meeting. Registrants can order from the menu and pay on their own.
For more information, call the Chamber at 274-5773.
Northern Development and Mines minister Rick Bartolucci announced the new Northern Ontario Heritage Fund Corp. (NOHFC) programs back on Jan. 24.
They include the Enterprises North Job Creation Program; Northern Ontario Youth Internship and Co-op Program; Northern Ontario Young Entrepreneur Program; Small Business Energy Conservation Program; Emerging Technology Program; and Infrastructure and Community Development Program.
Under the Enterprises North Job Creation Program, the NOHFC now offers capital financing assistance to private-sector enterprises that will create jobs in the north.
This equals 50 percent of eligible costs up to $1 million.
The Northern Ontario Youth Internship and Co-op Program responds to the long-standing issue of youth migration.
Both private-sector and public-sector employers are eligible for this program, which provides a conditional contribution (financial assistance that does not need to be repaid if certain conditions are met) toward the wages of northern post-secondary students aged 29 and under to work for northern employers in the field of their education.
The co-op portion reduces the cost of wages for the students during their co-op placement while the internship reduces the cost of wages during the first year of work.
Under the Northern Ontario Young Entrepreneur Program, young northerners can take advantage of this program to develop business skills and start their own full-time business.
Youth aged 18-29 can apply for funding for assistance with capital costs, up to $25,000 per project.
The Small Business Energy Conservation Program is designed to help small businesses conserve energy and reduce their demand on external energy sources.
The province will provide assistance up to 50 percent for energy retrofit planning, energy retrofit projects, and new internal energy generation projects.
The Emerging Technology Program supports innovative initiatives and demonstration projects that will create jobs and economic development in Northern Ontario.
Both the public- and private-sector are eligible for the program, under which up to 50 percent of the costs of capital projects may be provided in the form of conditional contributions, repayable loans, and forgivable loans.
Finally, under the Infrastructure and Community Development Program, partnerships and alliances comprising of municipalities, private-sector businesses and organizations, the federal government, and other government-related agencies may make joint-applications.
Municipalities, First Nations, not-for-profit corporations, and educational institutions also may apply for individual assistance.
The infrastructure component supports essential community infrastructure that is required to create jobs.
The community development component assists in the identification of development opportunities, proposal preparation, capacity-building, investment-readiness projects, sectoral research projects, and small capital projects that will help a community take advantage of an economic development opportunity.
Fort Frances Times
Local News from Across the Rainy River District
