Amount: up to 50 percent of eligible costs with up to 10 million per project.
The Jobs and Growth Fund is an interest-free loan covering up to 50% of eligible costs and intended to provide funding to businesses and organizations to help create jobs and position local economies for long-term growth. The Fund, delivered by Canada’s regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.
Eligibility Criteria
- Businesses, including co-operatives.
- Indigenous-led organizations and/or businesses are strongly encouraged to apply. Under the initiative, RDAs may contribute up to 100 percent of eligible project costs for projects with Indigenous clients.
Eligible Activities
- Support the development and adoption of clean technology.
- Support the development or adoption of digital and technological solutions (i.e., Industry 4.0 solutions) to increase and promote business productivity.
- Invest in technologies that help scale businesses, enhance their capabilities and increase resilience.
- Support scale-up and market expansion activities that bolster traditional areas of strength.
Eligible Costs
- Labour: incremental salaries and benefits for individuals employed for the project may be eligible should they meet the following conditions:
- The recipient confirms that it is not economically feasible to tender a contract
- Costs are for those employed directly in respect of the work that would have been the subject of the contract, or
- Labour hired to work exclusively on the project (i.e., not existing employees of the recipient)
- Expertise: incremental fees paid to professional, technical personnel, consultants, engineers or contractors.
- Facility construction/renovation: these are costs typically associated with renovations, site improvements, leasehold improvements and related costs to support the outcomes of the project.
- Equipment purchase/installation: the purchase and/or installation of equipment, machinery or software directly related to, or necessary for, the completion of the project.
- Other direct project costs (indicate as required in the spaces provided).
Amount
Eligible businesses could receive interest-free repayable contributions for up to 50 percent of eligible costs. Project contribution amounts would not normally exceed $10 million.
Deadline
Applications will be accepted on a continuous intake basis until such time as the funding is fully allocated.