The Southwestern Ontario Development Fund gives money to companies, municipalities, and not-for-profit organizations in Ontario to support job creation, boost innovation and collaboration, or attract investment from the private sector.
Who is eligible?
There are two types of funding available through the Southwestern Ontario Development Fund:
Business stream
Business projects are eligible for up to 15% of project costs to a maximum grant of $1.5 million.
Businesses need to employ at least 10 people, create (at least) 10 new jobs, provide 3 years of financial statements, be situated in (or plan to be in) Southwestern Ontario, and commit to spending at least $500,000 on their project.
Under the business stream, companies with 5-10 employees situated within small communities may be eligible for funding through the Small Community Pilot. This requires a minimum investment of $200,000 over 4 years, and is to create a 50% increase in the current state of employment.
Regional stream
Regional projects are eligible for up to 50% of project costs to a maximum of $1.5 million. Regional stream projects need to: focus on economic development and job creation, support provincial and regional priorities, have private sector support, finance more than $100,000, and be utilized for new activities.
Eligible sectors
Projects in the following sectors are eligible for funding:
- Advanced manufacturing (aerospace,automotive, plastics and clean tech)
- Life sciences
- Primary and secondary processing
- Information and communication technology
- Tourism
- Cultural activities
How can BDO help?
BDO's Advisory Services Group wants to connect you with the most suitable government grants and incentives, like the Southwestern Ontario Development Fund, to ensure you receive the maximum amount of funding possible. We can assist in activity scoping and the application process, as well we can provide a strategic approach in determining how government grants and incentives fit into your company's future growth plans.