The new program targets business in smaller communities in SW Ontario. It differs from the SWODF program in the size of organizations and size of projects eligible for grant money. The original SWODF program focuses on businesses with ten or more employees and project budgets up to $500,000. The new SCP program serves smaller businesses with only 5-10 employees and project budgets up to $200,000.
Both funds provide grant money up to 15% of eligible project costs to a maximum grant of $1.5 million. For project investments of $10+ million that create 50+ jobs, funding may be available in the form of a secured repayable loan, to a maximum of $5 million.
The Southwestern Ontario Development Fund is managed by the Ontario Ministry of Economic Development and Innovation. It supports regional economic development in SW Ontario. This includes 15 geographic areas: Brant, Bruce, Chatham-Kent, Dufferin, Elgin, Essex, Grey, Haldimand, Huron, Lambton, Middlesex, Niagara, Norfolk, Oxford, Perth, Waterloo, and Wellington.
For more information, visit www.ontariocanada.com/ontcan/1medt/en/swodf_en.jsp
