New Investment Projects

NOHFC assists competitive businesses that, currently do not have a presence in Ontario, expand operations to Northern Ontario and create jobs.

Who is Eligible?

Competitive businesses that currently do not have a presence in Ontario that will expand operations to Northern Ontario and create jobs.

What is Eligible?

Preference is given to those projects that demonstrate the following:

  • creation of new jobs
  • ability to become a new anchor for investments and/or support regional cluster development
  • alignment with the existing and emerging priority economic sectors including:
    • advanced manufacturing
    • agriculture, aquaculture and food processing
    • arts, culture and creative industries
    • digital economy
    • forestry and value-added forestry-related industries
    • health sciences
    • minerals sector and mining supply and services
    • renewable energy and services
    • tourism
    • transportation, aviation and aerospace
    • water technologies and services

Other business activities that, in the opinion of the NOHFC Board of Directors, will result in an economic development advantage for Northern Ontario will be considered.

What is Not Eligible?

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

  • businesses with an existing presence in Ontario
  • business plans
  • strategic plans
  • feasibility studies
  • land
  • rolling stock (e.g. cars & trucks)
  • maintenance costs
  • administration costs
  • mineral exploration, mine development costs and milling operations
  • inventory
  • other ongoing operating costs
  • acquisitions and buy-outs of existing businesses
  • electricity generation projects

Guidelines

  • The proposed project should not unreasonably impact existing Northern Ontario businesses.
  • The proposed project should result in net economic benefits for Northern Ontario.
  • The business will have to identify other funding sources necessary to implement the project.
  • Consideration of funding will be based upon the creation of full-time equivalent jobs in Northern Ontario.

Applicants are required to have a pre-application consultation session with NOHFC staff prior to submitting an application. Please contact NOHFC at 1-800-461-8329 to schedule your consultation.

Funding

NOHFC will provide assistance in the form of a conditional grant or a combination of a conditional grant and term loan/incentive term loan on a case-by-case basis.

Not all projects meeting the program criteria outlined above will receive funding.

Applications will be accepted under this program until March 31, 2019. This is subject to change without any prior notice.