The Southwestern Ontario Development Fund (SWODF)

The Southwestern Ontario Development Fund (SWODF) provides funding to businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario. This program supports projects that create jobs, encourage innovation, collaboration and cluster development as well as attract private sector investment.

Who Qualifies

Eligible sectors

Projects in these sectors are eligible under this program:

  • advanced manufacturing (automotive, aerospace, plastics, clean technologies)
  • life sciences
  • processing (primary and secondary)
  • information and communication technology
  • tourism
  • cultural industries

There are two types of funding offered by this program: business and regional

Business stream

In order to be eligible for this stream, you need to:

  • employ at least 10 people
  • commit to creating at least 10 new jobs
  • be able to provide 3 years of operations/financial statements
  • be located in, or plan to locate in, a community in southwestern Ontario
  • invest at least $500,000 in the project

Regional stream

In order to be eligible for the regional stream, you need to:

  • focus on economic/business development and job creation in the area
  • align with provincial and regional priorities (e.g., introducing new forms of innovation, taking part in province-led economic development initiatives)
  • invest more than $100,000
  • have private sector support
  • be used for activities that are new to the organization

*If you are a business you must apply to the Business stream.

Eligible Costs

Business stream

The following cost categories are claimable for your project:

  • Project facility modifications/upgrades required for the project
  • Equipment and machinery
  • Labour (one-time)
  • Materials (one time)
  • Specialized Expertise
  • Skills training
  • Permits and Fees

Regional Stream

The following cost categories are claimable for your project:

  • Infrastructure for immediate investment such as public infrastructure (e.g. site servicing, power service upgrades, etc.)
  • Business attraction costs
  • Project facility modifications/upgrades
  • Equipment and machinery
  • Labour (one-time)
  • Materials (one-time)
  • Specialized expertise
  • Skills training
  • Project related permits, fees, and other similar charges

Funding Available

Business stream

You can obtain up to 15% of eligible project costs to a maximum grant of $1.5 million. You need to contribute at least 50% of the total costs from your own business or private financing.

Investments of more than $10 million that also create more than 50 new jobs may be eligible for a loan of up to $5 million.

Regional stream

Up to 50% of eligible project costs are obtainable to a maximum grant of $1.5 million. You need to contribute at least 35% of total costs through your own resources or private financing.

SWODF Success

The Ministry of Economic Development and Growth reports that with help from the Southwestern Ontario Development Fund, thirty companies will be adding and retaining over 5000 jobs in total. This represents a total of over $19 million in provincial funding starting from 2016.

Our team at EVAMAX stays on top of new developments & will keep you posted on any new available opportunities for Grants & Funding. You may also check our latest articles.

Application Deadline

This program is open at this time & has a continuous intake.

 

For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. You may also email us at info@evamax.com or call 1-877-711-7733

 

 

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