Enhancing NOHFC Programs

FULL STORY

Improving Access for Clients and Increasing Benefits to Northern Economy

November 16, 2017

Ontario is continuing to create jobs and spur economic development across the North by improving access to its Northern Ontario Heritage Fund Corporation (NOHFC) programs.

NOHFC program enhancements include:

Providing greater flexibility for Business Expansion Project applicants to request funding as grants, conditional grants and loans combined, or loans
Increasing the funding available for Community Capacity Building projects to 75 per cent, from 50 per cent
Adding major tourism event capital costs as eligible projects under the Strategic Economic Infrastructure Program
Providing assistance in the form of a conditional grant rather than a grant/loan combination for pilot demonstration and commercialization projects under the Northern Innovation Program
Establishing a standalone Northern Event Partnership Program to encourage clients to put forward economic development related events for funding.

Investing in economic development projects across the North is part of Ontario’s plan to create fairness and opportunity during this period of rapid economic change. The plan includes a higher minimum wage and better working conditions, free tuition for hundreds of thousands of students, easier access to affordable child care, and free prescription drugs for everyone under 25 through the biggest expansion of medicare in a generation.

QUOTES

“The NOHFC is one of our government’s most important vehicles for economic stimulus and job creation across the North. Our revised programs will better meet client needs and ensure that investments generate maximum benefits for northern communities. With these revised NOHFC programs we will continue to invest in projects that are strengthening communities, creating jobs and helping Northerners live, work and grow careers in Northern Ontario.”

— Michael Gravelle, Minister of Northern Development and Mines and chair of the NOHFC

QUICK FACTS

Ontario provides an annual contribution of $100 million to the NOHFC to help partner with Northerners and other clients to invest in community infrastructure, develop innovative technologies, expand business opportunities and build economic development capacity.
Since 2013, the province has invested more than $575 million through the NOHFC in over 3,525 projects, leveraging more than $2.1 billion in direct economic activity and creating or sustaining over 14,760 jobs in Northern Ontario.
For further information, please visit the NOHFC website or call toll free 1-800-461-8329.