Funding for the Forest Sector!
Support for Increased Productivity and Innovation
The Forest Sector Investment and Innovation Program offers 4-year interest-free loans of up to 30% for projects with costs of $3 million or more. Up to 50% of the loan may be forgiven if project job creation and investment targets are reached. Supported costs include equipment purchases, building retrofits, export marketing, R&D, training, plus project-related wages. Funding is available for Ontario wood product manufacturers and processors such as pulp & paper mills, saw mills, secondary manufacturers (e.g. furniture, cupboard and stair case makers) and bio-economy projects. Projects are assessed on number of jobs to be created and overall benefits for the sector and Ontario. Loan repayment rate is 3% plus Ontario’s cost of borrowing. Next deadline to submit a pre-proposal is March 20, 2020.
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