Looking for funds to expand your business venture in Elgin County or turn a new
idea into a product for the future? If you act quickly you can apply to a new source
of funds that has just been made available from the federal government.
It’s called the Southern Ontario Development Program and it is making $100 million
available in 2009-10 for projects that will stimulate
local economies and enhance the growth and competitiveness of Southern Ontario businesses and communities.
Small and medium-sized businesses, municipalities, not-for-profits, Aboriginal organizations,
colleges and universities are invited to submit applications for funds to support
activities that include:
-
Expanding capacity;
- Improving technology or equipment;
- Improving the productivity
and competitiveness of a business;
- Accessing new markets;
- Innovation of products
or services;
- Commercialization of innovations;
- Improving community owned tourism
facilities.
Applications for funds in 2009-10 will be accepted up to December 1. FedDev Ontario
will favour projects that can be started quickly and completed by March 31, 2010.
All this activity is the result of a provision in the 2009 federal budget that created
a new Southern Ontario development agency. The agency's programs are intended to support economic and community development, innovation and economic diversification.
The agency is called the Federal Economic Development Agency for Southern Ontario
(FedDev Ontario). The Southern Ontario Development Program (SODP) is one of its
major programs.
The Honourable Gary Goodyear, Minister of State for the Federal Economic Development
Agency for Southern Ontario, announced October 2 in London that applications are
open for SODP projects.
"FedDev Ontario will support people, communities and businesses in the region and
promote long-term growth," Goodyear said.
Priority will be given to organizations or enterprises located in communities in
Southern Ontario with populations of 500,000 or less, as well as to communities
whose economies are less diversified and/or are reliant on a limited number of employers.
To download an application form, please visit
www.southernontario.gc.ca.
Applications should be submitted by e-mail to
sodp-pdso@feddevontario.gc.ca
or by mail to 151 Yonge Street, 3rd Floor, Toronto ON, M5C 2W3. Each project must
have a separate and fully completed application form to be considered.
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