Thunder Bay Incentive Programs
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.
The Community Economic Development Commission Tourism Development Fund (CEDC Tourism Development Fund, formerly known as the CEDC MAT Fund) is supported by tax revenues collected quarterly by the City of Thunder Bay through the administration of the Municipal Accommodation Tax (MAT).
- The CEDC Tourism Event Fund provides financial support to tourism events that demonstrate a capacity to attract out of town visitors and generate overnight stays at accommodation properties collecting the Municipal Accommodation Tax in Thunder Bay. A tourism event may include sport championships and tournaments, cultural shows, music concerts, festivals, meetings, conventions and other gatherings attracting out-of-town visitors for overnight stays.
- The CEDC Tourism Product Development Fund provides support for projects that enhance existing, or create new business products, facilities and infrastructure that will result in a measurable improvement to the tourism experiences and opportunities to attract visitors to Thunder Bay. All projects must show broader community impact to the tourism and hospitality industry and should not solely increase the benefit to one organization.
The CEDC accepts applications year-round. In order to receive timely funding approval applicants are encouraged to apply 90-days prior to events and project start dates requiring less than $50,000, and 120 days prior to events requiring funding greater than $50,000.
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.
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.
Canadian Incentive Programs
This program supports mineral exploration by assisting investors with raising equity.
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.
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.
(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.
This program provides up to 10% of eligible wages as a tax credit for hiring a new apprentice.
Ontario Incentive Programs
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.
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.
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.
Eligible businesses will receive a micro-grant of up to $2,400 to help with the costs related to adopting e-commerce and supported by a network of e-commerce advisors.
The $2500 Digital Transformation Grant is open for eligible brick-and-mortar small businesses to apply. Start the application process now by creating an account and completing the digital assessment.
Receive funding to improve research infrastructure by renovating facilities and purchasing equipment.
Ontario supports businesses, allowing them to focus on their research by offsetting the cost of research operations such as salaries and supplies.
This program supports businesses in Ontario that are investing in scientific research and development. Tax credits are offered to businesses for qualifying expenses.
This program provides financial support for businesses wishing to invest in training for their employees.
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.