Government Funding For Ontario Agri Food Companies

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Presentation on funding available to Ontario Food Processors

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Government Funding For Ontario Agri Food Companies

  1. 1. SEPERATING THE WHEAT FROM THE CHAFF IN GOVERNMENT ASSISTANCE<br />Government Grants and Tax Rebates<br />for Ontario Agricultural Based Businesses<br />Prepared for RMA<br />by David Reynolds, President, INAC Services Limited<br />Services Limited<br />Grants and Tax Rebate Specialists since 1987<br />
  2. 2. AGRICULTURAL ASSISTANCE<br />TOP TEN FUNDING PROGRAMS <br />AS OF<br />SEPTEMBER 2010<br />
  3. 3. Scientific Research and Experimental (SR&ED) Tax Credits: <br /><ul><li>Minimum 20% to 45 percent tax credit/rebate for previous research and development. </li></ul>Phone: 1-800-959-5525 <br />Web: http://www.cra-arc.gc.ca/txcrdt/sred-rsde<br /> /menu-eng.html<br />
  4. 4. Rural Economic Development Program:<br /><ul><li>50% up to $1 million for equipment and other invoiced costs. </li></ul>Phone: 1-888-588-4111. <br />Website: http://www.omafra.gov.on.ca/english/rural/red/<br />
  5. 5. Ontario Market Investment Fund: <br /><ul><li>50% up to $100,000 towards innovative market research, communications and/or marketing projects that encourage Ontarians to buy locally-produced foods. </li></ul>Phone: 1-800-959-5525 <br />Web: http://www.omafra.gov.on.ca/english/food/<br /> domestic/omif/omif.html<br />
  6. 6. Sector initiative fund<br /><ul><li>50% up to $100,000 towards innovative first time training. </li></ul>Phone: 1-800-959-5525 <br />Web: http://www.omafra.gov.on.ca/english/food/<br /> domestic/omif/omif.html<br />
  7. 7. AgriProcessing Initiative (API): <br /><ul><li>50% up to $2 million 8-year interest free unsecured loans. </li></ul>Phone: 1-888-588-4111. <br />Website: http://www.omafra.gov.on.ca/english/rural/red/<br />
  8. 8. Industrial Research Assistance Program (IRAP): <br /><ul><li>Maximum 75% up to $500,000 towards labour and consulting directly related to R&D project costs. </li></ul>Phone: 1-877-994-4727 <br />Web: http://www.nrc-cnrc.gc.ca/eng/services/irap/<br /> financial-assistance.html<br />
  9. 9. Accelerated Review Process (Small IRAP): <br /><ul><li>Up to $50,000 towards supporting new or improved innovative or technology driven products, services or process. </li></ul>Phone: 1-877-994-4727<br />Web: http://www.nrc-cnrc.gc.ca/eng/services/irap/<br /> financial-assistance.html<br />
  10. 10. Hiring graduates <br /><ul><li>IRAP Y: 50% up to $12,000 to hire a recent graduate for technical or, marketing related activities.
  11. 11. Career Focus Program in Agriculture and Agri-Food: 50% up to $20,000 for a maximum of 12 months
  12. 12. NSERC: $4,500 to hire a student enrolled in a graduate program to undertake a research project for up to 16 weeks </li></ul>Phone: 1-866-452-5558 (Career Focus …)<br />Web: http://www.servicecanada.gc.ca/eng/audiences/youth/index.shtml<br />
  13. 13. University collaboration<br /><ul><li>100% up to $20,000 for the first time working with a professor
  14. 14. Up to 2/3rds of feasibility, research and commercialization costs covered with business contribution including in-kind support
  15. 15. Bricks and mortar</li></ul>Phone: 1-613-563-1236 (list of universities and colleges)<br />Web: http://www.aucc.ca<br />
  16. 16. EMPLOYMENT ONTARIO: <br /><ul><li>50% up to $410 per week for a maximum of 24 weeks to hire and train unemployed youth or workers.
  17. 17. 100% up to $410 per week for 2 weeks plus 50% up to $410 for 8 weeks to hire and train unemployed youth or workers.
  18. 18. $3,000 wage subsidy to hire and train workers over 50 years old. </li></ul>Phone: 1-800-387-5656 <br />Web: http://www.edu.gov.on.ca/eng/tcu/<br /> employers/wageSubsidy.html<br />
  19. 19. Regional AND Out of province<br /><ul><li>Quebec: Regional Economic Development Offices
  20. 20. Manitoba: 50% up to $50,000 for feasibility studies or commercialization
  21. 21. Eastern Ontario: 15% on investments over 100,000 that create 10 jobs</li></li></ul><li>Funding is always changing!<br /><ul><li>Hiring
  22. 22. Equipment Purchases and Training
  23. 23. Green Energy
  24. 24. Export Market Development
  25. 25. Academic Research
  26. 26. International Partnerships
  27. 27. Expansion outside of Ontario
  28. 28. Expansion outside of Canada</li></ul>Services Limited<br />Grants and Tax Rebate Specialists since 1987<br />
  29. 29. David Reynolds<br />Phone: 519-766-1395<br />Web: www.inacservices.com<br />Mail:232 Dublin Street North Guelph, Ontario, N1H 4P3<br />Email: dreynolds@inacservices.com<br />Services Limited<br />Grants and Tax Rebate Specialists since 1987<br />

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