Environmental Client Gets $4.5 million for High Tech Expansion
Program Supports Business Expansion in Southern Ontario
The Investing in Business Growth and Productivity (IBGP) program offers interest-free loans of up to 25% to a maximum of $20 million for activities that will result in increased business growth and/or ability to participate in global markets. Possible activities include but not limited to adopting new technologies, processes and related skills development, pursuing new business opportunities, market development, facility improvement and expansion, growth and integration of global value chains, and/or business expansion to support greater economic diversification. Projects must encourage economic growth and/or job creation in Southern Ontario. Eligible expenses include equipment purchases and installation, facility retrofits, consulting fees, marketing, as well as project-related employee wages and other expenses. Building and land purchases are not eligible. Interest-free loans are up to 6 years. Applicants must have between 15 and 1,000 employees. Please note that the program has little to no money left. However, we believe that the program will be re-invigorated by April 1, 2018. Therefore, companies with projects occurring after April 1, 2018 should provide a summary of future planned activities.
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