Presentation is loading. Please wait.

Presentation is loading. Please wait.

Programs. Background The Northern Ontario Heritage Fund Corporation is an agency of Ontario’s Ministry of Northern Development and Mines. The Corporation.

Similar presentations


Presentation on theme: "Programs. Background The Northern Ontario Heritage Fund Corporation is an agency of Ontario’s Ministry of Northern Development and Mines. The Corporation."— Presentation transcript:

1 Programs

2 Background The Northern Ontario Heritage Fund Corporation is an agency of Ontario’s Ministry of Northern Development and Mines. The Corporation was established on June 1, 1988. The mandate of NOHFC is to partner with northerners to create jobs and strengthen the northern economy by: Supporting northern community infrastructure Enhancing economic development capacity Stimulating commercialization, innovation and productivity; and Attracting and retaining talent NOHFC current annual budget is $100 million.

3 NOHFC’s Programs The NOHFC introduced five new programs in October 2013: Northern Business Opportunity Program Northern Innovation Program Northern Ontario Internship Program Strategic Economic Infrastructure Program Community Capacity Building Program

4

5 Northern Business Opportunity Program Investment in support of private sector growth is provided through four program subcomponents:  1.Business Expansion Projects  2.Small Business Start-up Projects  3. New Investment Projects  4.Film & Television Production Projects

6 1. Business Expansion Projects Who is Eligible? Existing businesses in Ontario that intend to expand and or retain their operations within Northern Ontario to improve competitiveness, grow revenues and create jobs in the following sectors identified and further described in the Growth Plan: 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 board, will result in an economic development advantage for Northern Ontario will be considered.

7 1. Business Expansion Projects What is Eligible? Eligible project costs include but are not limited to: capital construction leasehold improvements new or used equipment training costs incurred with third parties land servicing costs information & communications technology investments including, but not limited to, software What is Not Eligible? retail and consumer service businesses and business activities that primarily earn revenue through providing products and services, outside of the sectors described under “who is eligible” and as defined by the NOHFC businesses that are primarily involved in wholesale activities accommodation & food services businesses and business activities professional services businesses and business activities

8 1. Business Expansion Projects Funding: NOHFC assistance will generally not exceed 50% of eligible project costs up to a maximum of $1 million per project. Up to 30% of the NOHFC funding may be in the form of a conditional grant with the remainder in the form of a repayable loan. Where a conditional grant is not provided the NOHFC may consider incentive term loans on a case- by-case basis.

9 2. Small Business Start-up Projects Who is Eligible? New businesses in Northern Ontario that intend to commence operations in the following sectors identified and further described in the Growth Plan: 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 board, will result in an economic development advantage for Northern Ontario will be considered.

10 2. Small Business Start-up Projects What is Eligible? Eligible project costs related to the start-up of a business that creates jobs in Northern Ontario include, but are not limited to: leasehold improvements new or used equipment training costs incurred with third parties information and communications technology investments including, but not limited to, software marketing costs What is Not Eligible? retail and consumer service businesses and business activities that primarily earn revenue through providing products and services, outside of the sectors described under “who is eligible” and as defined by the NOHFC businesses that are primarily involved in wholesale activities accommodation & food services businesses and business activities professional services businesses and business activities

11 2. Small Business Start-up Projects Funding: NOHFC assistance will be in the form of a conditional contribution and will generally not exceed 50% of eligible project costs up to a maximum of $200,000. Guidelines: Applicants are required to provide a minimum equity contribution in the amount of 15% of eligible project costs. A proposed new business should not unreasonably impact existing Northern Ontario businesses. A business plan will be required after eligibility has been determined. The proposed new business will operate on a full-time basis and result in job creation in Northern Ontario. It is expected that the entrepreneur will work at the business on a full-time basis.

12 3. New Investment Projects 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 investments and/or support regional cluster development alignment with the priority sectors identified in the Growth Plan For Northern Ontario, 2011 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.

13 4. Film & Television Industry Projects Eligibility Production companies and their projects must meet these minimum conditions to qualify for NOHFC funding: The production company must be a Canadian corporation which is Canadian-controlled. The production company must own all of the rights necessary to exploit and produce the production. Projects with a total budget of less than $1 million must be produced by an Ontario resident. Applicants must be the owner or co-owner of the project, control copyright and receive, subject to commitments to third party investors, talent and deferring parties, a share of revenues from sales of the project. Applicants must receive a producer credit on the project. Eligible Projects theatrical feature films made-for-television movies television drama series

14 4. Film & Television Industry Projects Eligible Costs Project costs that are eligible for NOHFC funding include all costs of the production that are spent in Northern Ontario, including labour costs for Northern Ontario trainees under the Trainee Provision. Eligible costs include production goods and services and post-production costs. Ineligible Costs producer fees non-labour costs spent outside of Northern Ontario brokerage of production and/or post-production goods and services from outside of Northern Ontario by intermediaries Funding NOHFC provides assistance in the form of a conditional grant up to 50% of eligible costs to a general maximum of $500,000. NOHFC funding is based on the project’s level of spending in Northern Ontario and on employment and training opportunities for Northern Ontario residents.

15

16 Northern Innovation Program Eligible projects must involve research and development or commercialization activities for new technologies in the targeted sectors identified and further described in the Growth Plan. Preference is given to projects falling under the following sectors: natural resources advanced manufacturing clean technology health sciences the bioeconomy the digital economy

17 Northern Innovation Program Investment in support of research and development or commercialization activities will be provided through the four program subcomponents: 1.Opportunity Assessment Projects 2.Industrial Research Chairs 3.Applied Research &Technology Development Projects 4.Pilot Demonstration & Commercialization Projects Applications will be accepted under this program until March 31, 2017.

18

19 Who is Eligible Private sector, public sector, and not-for-profit organizations located in Northern Ontario that are interested in providing training and work experience to recent graduates and operate in one of the following sectors : 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 Not for profits, municipalities, First Nations, post-secondary education institutions, and research institutions may also apply other business activities that, in the opinion of the board, will result in an economic development advantage for Northern Ontario will be considered on a case by case basis.

20 What is Eligible Funding is available for organizations located in Northern Ontario to provide first time full-time employment in a related field to recent university and college graduates. Retail business activities where retail is the major or sole function of the position are not eligible. Positions that are clerical in nature are not eligible. Funding Eligible not-for-profit and public sector organizations located in Northern Ontario are potentially eligible to receive a conditional contribution of up to 90 percent of a recent graduate’s salary to a maximum contribution of $31,500. Eligible private sector Northern Ontario organizations are potentially eligible to receive a conditional contribution of up to 50 percent of a recent graduate’s salary to a maximum contribution of $31,500.

21 Please visit www.nohfc.ca For assistance with the NOHFC Programs please contact: Christine Kucher Northern Development Advisor Regional Economic Development Branch Ministry of Northern Development and Mines Tel: (705) 945-5948 Email: christine.kucher@ontario.ca


Download ppt "Programs. Background The Northern Ontario Heritage Fund Corporation is an agency of Ontario’s Ministry of Northern Development and Mines. The Corporation."

Similar presentations


Ads by Google