We’re happy to inform you that the Advanced Manufacturing & Innovation Competitiveness (AMIC) program for applicants across Southern Ontario is now open for applications until September 26, 2024.
We’d also like to remind you to hurry in applying for funding opportunities provided by the Southwestern Ontario Development Fund (SWODF) and the Eastern Ontario Development Fund (EODF) which are still open until September 26, 2024.
All the above Funds support projects and investments to businesses in Southern, Southwestern and Eastern Ontario, respectively, that create jobs, encourage innovation, attract private sector investment and lead to business growth and broad positive economic impacts.
Eligibility Requirements
- Invest at least $500 K in the project (or $200 K if you are in rural Ontario)
- Employ at least 10 people (or 5 if you are in rural Ontario)
- Commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees)
- Be able to provide 3 years of operations/financial statements
- Be located in, or plan to locate in, a community in Southern, Southwestern or Eastern Ontario
Funding
- Loans up to 15% funding, interest-free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan may be forgiven (i.e. granted).
- Grants are available only for specific circumstances, up to 15% if your company has fewer than 100 employees and is based in rural Ontario;
or for strategic projects that are foreign direct investments or from companies competing against other jurisdictions.
Deadline
The intake is open until September 26, 2024. So, if you’re considering applying for the funding or just to check your eligibility, don’t wait and reach out to us to increase your chance for approval.
