Jobs and Growth Fund to Help Build Economic ActivityJuly 14, 2021
Cornwall Ontario – The Government of Canada has launched the Jobs and Growth Fund to foster economic activity across Canada, with a goal of helping to create 1 million new jobs.
Delivered by Canada’s regional development agencies (RDAs), the new fund provides $700 million to support a regional response and stimulate economic recovery following the COVID-19 crisis by investing in projects that will help to create jobs over the next three years and beyond. This includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria. By investing in job creators, the fund will help them to future-proof, build resiliency and position businesses for a strong recovery by adopting clean technology, increasing diversity, implementing new digital technologies and strengthening capacity in critical sectors.
““By investing in our job creators and the organizations that support them, the Jobs and Growth Fund will help to create quality jobs, pursue inclusive and clean growth opportunities, and empower businesses and communities from coast to coast to coast,” said Mélanie Joly, Minister of Economic Development and Official Languages. “Our government has a plan to finish the fight against COVID-19—and ensure a resilient economic recovery that creates good jobs and growth for all Canadians. Today’s announcement is an important step forward in getting us there.”
The Jobs and Growth Fund will help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
Intake Now Open
Applications will be accepted on a continuous intake basis until March 31, 2024, or until funding is fully committed. In Ontario, the Jobs and Growth Fund is being delivered by FedDev Ontario, one of Canada’s regional development agencies. FedDev Ontario, which is now accepting applications for funding. Please visit FedDev Ontario’s Jobs and Growth Fund web page for full eligibility criteria and additional information.
FedDev Ontario staff will be hosting two technical briefings through Zoom during the month of July. Those who are interested in learning more about the program’s parameters and how to apply can register via one of the following links:
- Wednesday July 28, 2021 at 10:00AM (English Session, with bilingual Q&A)
- Thursday, July 29, 2021 at 10:00AM (English Session, with bilingual Q&A)
- Eligible recipients include businesses (including co-operatives) and business support organizations, such as not-for-profit organizations, community economic development partners and Indigenous-led organizations and/or businesses.
- Eligible businesses could normally receive interest-free repayable contributions for up to 50 percent of authorized costs. Eligible not-for profit organizations could normally receive non-repayable contributions for up to 90 percent of authorized costs. Indigenous-led organizations and/or businesses may be eligible to receive up to 100 percent of eligible project costs.
- The Jobs and Growth Fund is part of the broader Recovery Plan for Jobs, Growth and Resilience to support businesses and organizations across the country, and is follows the recently-announced Canada Community Revitalization Fund, Major Festivals and Events Support Initiative and the Tourism Relief Fund,
- Since the start of COVID-19, Canada’s RDAs have been on the ground providing relief and recovery funding to businesses and organizations to help them weather the effects of the pandemic through the $2-billion Regional Relief and Recovery Fund, preserving more than 125,000 jobs.
- Jobs and Growth Fund
- Canada’s Regional Development Agencies
- Canada Community Revitalization Fund
- Tourism Relief Fund
- Major Festivals and Events Support Initiative
- Budget 2021: Strengthening the cities and communities we call home
Business Reopening Toolkit
Cornwall Economic Development has put together a toolkit to help businesses reopen. The toolkit includes guidelines and a maximum occupancy calculator along with signs and posters that can be downloaded and printed:
We summarize the latest news about the impacts of COVID-19 on Cornwall businesses on a daily basis. Click on the following link to view: