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There are many incentives available to business owners and non-profit organizations looking to start or expand a business or a project in this region. The list below highlights some of the incentives available at the local, provincial, and federal levels but it is by no means meant to be an exhaustive list of all of the incentive programs available in Canada. Should you have any questions about the incentive programs listed below or others that you may have discovered, or if you require assistance to apply for business incentives, please contact us today.
For a more exhaustive list of funding and financing programs, please visit the Canada Business Network website. This site contains information for entrepreneurs looking to start, plan, grow, manage, and finance a business. Alternatively, you can see the list of government funding and financing programs available to entrepreneurs in Ontario.
The Tax Increment Rebate Program’s goal is to stimulate new and large scale re-development projects located in the Community Improvement Plan Area. This program will provide a rebate for the increase in the City’s portion of any property tax increase due to the rehabilitation, redevelopment, and other significant building improvements (with a minimum investment of $500,000). The 5-year phased program provides grants equivalent to the percentage of the City of Timmins’ increase in property taxes.
The grant shall be in the following amounts:
The Municipal “No Fee Zone” is a program geared towards encouraging the development, redevelopment, and renovation of commercial properties located within the Community Improvement Plan Area. This program will give property owners and developers a rebate on the municipal permitting and licensing fees paid when developing or expanding a business.
The fees that will be rebated are as follows:
The Productivity & Innovation Center provides financial support to small and medium-sized enterprises (SMEs) toward third party productivity assessments. These assessments aim to identify ways in which SME’s can increase their productivity in different areas of their operations. Eligible SMEs can access up to $9,000.00 in funding towards a productivity assessment and the implementation of the assessment’s recommendations.
In order to remain competitive in today’s digital marketplace, businesses must be using the Internet to their advantage. This means that to fully leverage the economic benefit of broadband access, businesses must not only be connected, they must also transform their business. The Broadband for E-Business and Marketing Program helps alleviate some of the associated costs of establishing online businesses or implementing or upgrading e-business applications.
Today’s contemporary economy relies heavily on a firm adaptation of modern means of communications, production methods, and management strategies; all supported by information and communication technology (ICT). The Small Business Assessment Monitoring and Planning project assists businesses with ICT implementation obstacles, such as a lack of IT knowledge and/or capital for internal technological assessments. Businesses have an opportunity to have their ICT assessed by a qualified Consultant
Mining Supply & Services Export Assistance Program is geared towards companies seeking support in penetrating new markets. To address the identified need, two multifaceted projects are planned to help Northern Ontario mining supply and services companies penetrate new markets and increase their revenue streams.
The Venture Centre/le Centre de développement is a community-based, non-profit organization that is dedicated to creating opportunities for entrepreneurship and the pursuit of economic growth in Northeastern Ontario. They provide community economic planning and development, access to funding for community projects and small businesses, and business counseling, services, and resources.
Wakenagun Community Futures Development Corporation is a federally incorporated not-for-profit Community Futures Development Corporation. Formerly known as the “Mushkegowuk Community Futures Committee” (until their incorporation in January 1995) they are now service seven communities along the Western James & Hudson Bay coast and three inland communities further south of James Bay in partnership with FedNor/Industry Canada. Their coverage area includes Fort Severn First Nation, Peawanuck First Nation, Attawapiskat First Nation, Kashechewan First Nation, Fort Albany First Nation, the Town of Moosonee, Moose Factory(Moose Cree First Nation, MoCreebec & Local Services Board area), Taykwa Tagamou First Nation, and Missanabie Cree First Nation. This area is the traditional home of the First Nations people who call this region “Mushkegowuk” and all individuals and organizations that reside and operate within this area are services by the corporation.
The Corporation’s mission is to support community economic development for our First Nation members through:
The Nishnawbe Aski Development Fund is an Aboriginal Financial Institution dedicated to supporting the success of Aboriginal businesses across Northern Ontario (Treaty 9 and Treaty 3 areas) with business financing and support services. Their goal is to provide Aboriginal entrepreneurs with the tools, resources, information, and inspiration to help them build and expand their business.
The Métis Voyageur Development Fund (MVDF) is an independent Métis owner and controlled corporation that provides funding and support for resource (or related sector) Métis businesses. They provide non-repayable business plan and Aftercare support of up to $50,000.00 over the life of the MVDF’s participation.
Mushkegowuk Council Employment & Training Service (METS) has been in operation since 1997. METS administers Employment & Training funds for the members of the following First Nations communities:
Entrepreneur Francophone Plus economic development initiative, supported by FedNor, is beneficial to private sector businesses throughout Northern Ontario, from Parry Sound all the way to Kenora.
The project allows Francophone private sector entrepreneurs to benefit from additional funds available through 2 programs: Vision + and Youth Internship.
The Northern Ontario Heritage Fund Corporation (NOHFC) offers programs to assist private entrepreneurs with start-up and expansion costs. There is generally a minimum of a 3-month waiting period for approval from the date of the first step application submission. There is a two-step application process for these grants but Business Development Specialists will be available each step of the way in order to aid applicants in leveraging the necessary funds.
The Jobs and Prosperity Fund allows businesses, business associations, and entrepreneurs to access funding for projects to enhance productivity and facilitate competition in the global marketplace. This program has three streams of funding: the New Economy Stream, the Food and Beverage Growth Fund, and the Strategic Partnerships Stream.
Canada-Ontario Job Grant provides an opportunity for employers to invest in their workforce with help from the government.
The Job Grant will provide direct financial support to individual employers who wish to purchase training for their employees. Funding is available to small, medium and large businesses with a plan to deliver short-term training to existing and new employees, and will:
If you’re an employer with a particular skills demand, the Canada-Ontario Job Grant might be right for you. Applications will be accepted on an ongoing basis.
FedNor supports a number of programs or initiatives that provide valuable business information and services. Whether you’re seeking support with business planning, advice on trade and export matters, or looking to get your business connected using Information and Communications Technology, our partners may be able to help. FedNor also provides funding and financing for small businesses, for research and development and youth internships.
The National Research Council’s Industrial Research Assistance Program (IRAP) is Canada’s premier innovation assistance program for small and medium-sized enterprises (SMEs). It is a vital component of the National Research Council, a cornerstone in Canada’s innovation system that is regarded world-wide as one of the best programs of its kind.
The Business Development Bank of Canada (BDC) helps create and develop Canadian businesses through financing, venture capital, and consultation services with a focus on small and medium-sized enterprises. The BDC has over 100 branches in Canada to serve entrepreneurs, including one located in downtown Timmins.
Speak with one of our experts about what Timmins has to offer your business, family & portfolio:
12 Elm Street North
Tel: (705) 360-2656
Toll free: (877) 470-8332
Fax: (705) 360-2679