Southwestern Ontario companies that are looking to invest in an expansion project at their facility should consider the Southwestern Ontario Development Fund (SWODF). The focus of the program is to support job creation, innovation, and economic development in Southwestern Ontario. The SWODF will fund up to 15% of eligible project costs to a maximum of $1.5 million.
Companies that are operating in the following sectors are eligible for funding: advanced manufacturing, life sciences, processing (primary and secondary), tourism, information and communications technology, and cultural industries. In order to be eligible for the program companies must: employ at least 10 people, create at least 10 new jobs, spend at least $500,000 on the facility expansion, and provide a project timeline that extends over a two to four year period. If the company is looking to invest over $10 million in the project and create more than 50 new jobs, a loan of up to $5 million may be available.
NorthBridge Consultants has assisted companies in successfully obtaining SWODF funding. Our team is able to provide the necessary guidance in completing and submitting an application for this funding program. We can assist with the identification of funding opportunities, the completion of the application, the preparation of financial projections, and the required reporting after application submission.