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Thunder Bay Incentive Programs

Airport Development Incentive Program

Offering refunds for Aerospace construction activity, this program supports businesses that have a vested interest in continuing the development and growth of the Thunder Bay International Airport lands.

 

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Downtown Financial Assistance Program

The City of Thunder Bay is encouraging businesses to improve the city’s downtown core. Grants are being offered to property owners who develop, rehabilitate and improve their buildings and properties.

 

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Thunder Bay Ventures Community Futures Development Corporation

Thunder Bay Ventures is a non profit organization that is dedicated to supporting economic development in Thunder Bay. They provide financing for new and expanding businesses, business services, referrals, and funding for economic development activity in the region.

 

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Port Authority Lands - Community Improvement Plan

This Community Improvement Plan provides eligible property owners or tenants with the following three financial incentive programs, designed to stimulate investment and encourage redevelopment in the Project Area:

  1. The Port Tax Increment-Based Grant Program provides a grant equal to 100% of the increase in municipal taxes that result from reassessment of improved properties.
  2. The Port Development Grant/Loan Program makes it possible for the City to offer direct grants or loans, on an individual project basis, to offset the costs associated with major developments on lands in the Project Area.
  3. The Planning and Building Fee Grant Program provides a grant equal to 100% of the fees paid for most planning approvals and building permits.

Properties to be developed or rehabilitated by the programs include all the land designated as a Community Improvement Project Area under By-law 097-2010.

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Canadian Incentive Programs

Mineral Exploration Tax Credit

This program supports mineral exploration by assisting investors with raising equity.

 

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FedNor

Focused on supporting businesses in the North, FedNor provides funding assistance for community projects as well as private sector initiatives designed to improve the economic and social well-being of the North. FedNor also offers internship programs.

 

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Scientific Research & Experimental Development Tax Incentive Program

(SR&ED) – This federal program supports businesses that are investing in innovation. Companies that complete scientific research and experimental development in Canada may qualify for tax rebates through the SR&ED program.

 

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Apprenticeship Job Creation Tax Credit

This program provides up to 10% of eligible wages as a tax credit for hiring a new apprentice.

 

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Ontario Incentive Programs

Northern Ontario Angels

This organization supports entrepreneurs that are looking for growth and angel investors that are looking for new investments. This group is dedicated to the development and growth of Ontario’s North.

 

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Northern Ontario Heritage Fund Corporation

The NOHFC provides financial assistance to businesses that are committed to the economic growth and diversification of Northern Ontario. NOHFC provides up to 50% (to a maximum of $1 million) on capital expenditures, leasehold improvements, staff training, marketing, equipment purchases and land servicing, with up to one half of the funding in the form of a conditional grant, with the remainder in the form of a repayable loan. NOHFC also provides internship programs and incentive programs for R&D, Apprenticeship Tax Credit, and wage subsidies.

 

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Ernest C. Manning Innovation Awards

Northern Ontario Chapter Chair – These awards celebrate Canadian Innovators. Awards are given to innovations that are commercially viable, and that support the provincial and national economy.

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Industrial Research Assistance Program (IRAP)

Accelerate your business’ growth with  support from IRAP. Funding is provided for innovative research and development programs as well as assisting with hiring recent graduates.

 

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Ontario Research Fund: Research Infrastructure

Receive funding to improve research infrastructure by renovating facilities and purchasing equipment.

 

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Ontario Research Fund: Ontario Excellence

Ontario supports businesses, allowing them to focus on their research by offsetting the cost of research operations such as salaries and supplies.

 

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Ontario Research & Development Tax Credit

This program supports businesses in Ontario that are investing in scientific research and development. Tax credits are offered to businesses for qualifying expenses.

 

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Canada-Ontario Job Grant

This program provides financial support for businesses wishing to invest in training for their employees.

 

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Graduated Apprenticeship Grant for Employers

This program rewards businesses for hiring and training registered apprentices. Employers receive financial support each time their apprentice completes a level of schooling and completes their apprenticeship training.

 

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