2022 Intake for Rural Economic Development Fund
January 26, 2022Cornwall Ontario – A new intake of the Rural Economic Development (RED) program will open on February 7, 2022. The program helps build rural Ontario by investing in projects that boost economic opportunities in rural and Indigenous communities, create jobs and strengthen the labour force.
“Our government understands rural communities have been affected by COVID-19,” said Lisa Thompson, Minister of Agriculture, Food and Rural Affairs. “This targeted RED intake focuses on initiatives that will attract new residents and workers to rural communities across the province, while also creating opportunities for youth, workers and job seekers, and supporting innovative initiatives that position local businesses on a successful path forward.”
This funding will support initiatives that address barriers to economic development and position rural communities for economic growth and job creation, such as:
- Marketing and outreach campaigns to grow rural Ontario’s workforce.
- Connecting youth and apprentices to job opportunities and placements.
- Creating dedicated spaces such as innovation hubs and youth centres to develop partnerships and foster innovation.
Minister Thompson also announced up to $3,847,999 in funding for 61 projects that have been selected through the previous RED intake. Funding from this intake is being used to help diversify local economies, retain skilled workers, and attract opportunities, workers, and investment to rural communities.
Ontario’s Rural Economic Development (RED) program continues to support rural communities as they respond to the local economic impacts of the pandemic by supporting actions that will address barriers to economic development, and better position rural communities for economic growth and job creation.
Webinars are scheduled to provide an overview of the RED program and discuss the process for applying to the program.
- February 8, 2022, 11:00am-12:00pm EST
- February 22, 2022, 1:00pm-2:00pm EST
Quick Facts
- Applications for the new targeted RED intake will be accepted from February 7, 2022 to March 7, 2022.
- The Government of Ontario has committed more than $15.2 million to fund more than 287 economic development projects through the RED program since 2019.
- Projects in the Economic Diversification and Competitiveness stream are eligible for up to 70 per cent cost share, up to a maximum of $150,000 per approved project.
- Projects in the Strategic Economic Infrastructure Stream are eligible for up to 50 per cent cost share, up to a maximum of $250,000 per approved project.
- The RED program supports projects with tangible benefits to rural and indigenous communities that help to attract business, investment, and create jobs, while also providing greater value for taxpayer dollars.
- Cornwall has received support from the RED program in the past, most recently to support the Cornwall Arts and Culture Centre and software and equipment to improve building and by-law services.