Southwestern Ontario Development Fund - Supporting Expansion and Development
Written by:
Samantha Hingley, Client Manager.
Southwestern Ontario companies that are looking to undertake an expansion and development project should consider the Southwestern Ontario Development Fund (SWODF). This fund supports new investment in the local region, the creation of new jobs, and the promotion of innovation and collaboration. The SWODF awards funding to projects that involve four main aspects: job creation, innovation, development of new products or services, and entering new markets. SWODF will fund up to 15% of eligible project costs to a maximum of $1.5 million.
The eligible sectors are tourism, cultural industries, advanced manufacturing,
life sciences, processing (primary and secondary), and information and
communication technology. The program eligibility criteria stipulates that the
company has at least 10 employees, is looking to create at least 10 new jobs,
the total project cost is at least $500,000, and the project extends over a two to
four year period. If the company is investing over $10 million and creating more
than 50 new jobs, a loan of up to $5 million may be available.
NorthBridge Consultants has experience with the SWODF application process and
will provide the necessary guidance for your application. Our team of business
analysts and technical writers can assist with the completion of application
information, the preparation of financial information, the creation of business
plans, and the required reporting after application submission.
