Business Incentives

Business Incentives

Midland | Penetanguishene | Tay | Tiny

 Provincial and Federal Governments

The Provincial and Federal Governments offer a variety of programs which can benefit your business. Many of these programs are related to work force development, research and development, tax credits of repayable loans for business growth and investment.

Canada, Ontario and Simcoe County make it easy to do business in North Simcoe, Ontario, Canada. Your business can benefit is through access to an array of government incentive programs and services that can help you save money on corporate taxes, labour costs, R&D and more.

Below are only a sample of the incentive programs and services available to help you grow your business – contact the Economic Development Corporation of North Simcoe (EDCNS) to find out which programs and services can best serve your business needs.  We can advise and help direct you to the correct source.

New for 2015

The Jobs and Prosperity Fund is providing $2.5 billion over 10 years to enhance productivity, bolster innovation and grow Ontario’s exports. Businesses, business associations and entrepreneurs can get funding for projects to enhance productivity and help them compete in the global marketplace.

Innovation and R&D

The Scientific Research and Experimental Development (SR&ED) Program is a tax incentive program that encourages Canadian businesses of all sizes and in all sectors to conduct research and development in Canada. The SR&ED Program offers cash refunds and/or tax credits for expenditures on eligible R&D work done in Canada.

The Ontario Research and Development Tax Credit is a non-refundable tax credit. It is available to corporations that carry out scientific research and experimental development work in Ontario.

The Ontario Innovation Tax Credit is a refundable tax credit. It’s available to all corporations that perform scientific research and experimental development in Ontario.

The Ontario Business Research Institute Tax Credit is available to qualifying corporations that performs scientific research and experimental development in Ontario under a contract with an eligible research institute.

Emerging Technologies Fund is a $250-million fund that matches investments in new technologies by venture capitalists and angel investors dollar-for-dollar.

The Ontario Venture Capital Fund is a $205-million fund that is a joint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high-growth companies.

The Northleaf Venture Catalyst Fund is a joint initiative between the Government of Ontario, the Government of Canada, and institutional and corporate investors to invest in high-potential venture capital fund managers across Canada.

Ontario Tax Exemption for Commercialization is a 10-year tax exemption for new corporations that commercialize intellectual property developed by qualifying Canadian universities, colleges or research institutes

Regional Funding

The Southwestern Ontario Development Fund provide funding for economic development in southwestern Ontario which includes North Simcoe. The funds support projects that create jobs, encourage innovation, collaboration and cluster development, and attract private sector investment.

The Southern Ontario Prosperity Initiatives are designed to invest in inspired and determined entrepreneurs, innovative and globally-oriented businesses and organizations, and strong and prosperous partnerships and communities, creating an advantage to compete both at home and abroad.

Apprenticeship, training and education

Ontario’s Apprenticeship Training Tax Credit gives companies a 35 – 45% refundable tax credit on salaries and wages for new apprentices.

Co-operative Education Tax Credit is a refundable tax credit available to employers who hire students enrolled in a co-operative education program at an Ontario university or college. The maximum credit for each work placement is $3,000.

Aerospace

The Strategic Aerospace and Defence Initiative (SADI) provides repayable contributions to support research and development projects in the aerospace, space, defence and security (A&D) sectors. SADI is available to firms of all sizes to support product, service or process innovation.

Automotive

Automotive Innovation Fund is a $250-million fund that supports strategic, large-scale R&D projects aimed at building more fuel-efficient vehicles.

Cleantech

The Smart Grid Fund is a $50-million fund that supports the growth of Ontario’s smart grid by investing in projects that will enhance our electricity system and provide economic development opportunities. The fund provides targeted financial support to Ontario-based demonstration and capacity-building projects that test, develop and bring to market the next generation of smart grid solutions.

The Biogas Systems Financial Assistance Program helps accelerate the adoption of cleaner, greener alternative fuels and energy sources.

Food

Growing Forward 2, a comprehensive federal-provincial-territorial initiative that encourages innovation, competitiveness and market development in Canada’s agri-food and agri-products sector.

Life Sciences

The Ontario Innovation Tax Credit is a refundable tax credit. It’s available to all corporations that perform scientific research and experimental development (SR&ED) in Ontario.

Ontario Business Research Institute Tax Credit, available to a qualifying corporation that perform scientific research and experimental development in Ontario under a contract with an eligible research institute.

Emerging Technologies Fund is a $250-million fund that matches investments in new technologies by venture capitalists and angel investors dollar-for-dollar.

Manufacturing

The Advanced Manufacturing Fund is designed to promote the continued growth and productivity of Ontario’s advanced manufacturing sector by supporting large-scale transformative manufacturing activities, advancing adoption of cutting-edge technologies, establishing clusters or global supply chains and fostering collaboration between the private sector and higher education and research institutions.

Tourism

Celebrate Ontario 2016 offers online information sessions that will be delivered via webinar using WebEx and teleconference to assist interested organizations in applying to the Celebrate Ontario 2016 program. Six sessions will be delivered, available in English or French. Please register for your preferred date and time for participation in one or more of the Celebrate Ontario 2016 Information Sessions.  New and existing events may apply for marketing and enhancement funding through the Celebrate Ontario 2016 program. The Celebrate Ontario Blockbuster category is available to support organizations bidding on and hosting major one-time events with operating budgets over $1 million.  Application deadline is November 4, 2015.

Municipal Governments

Midland

The Town of Midland provides the following exemptions from municipal development charges:

  • Buildings for industrial uses
  • Lands zoned Downtown Core Commercial – DC-F2 in the Town of Midland Zoning By-law

Town of Penetanguishene

On July 25, 2007, Town Council approved a Façade Improvement Program for businesses located in the Downtown Improvement Area. The purpose of this program is to encourage and assist our local merchants who wish to make improvements or updates to their storefronts.

Applications are accepted at any time and are done a first come first served basis.

By providing financial incentives to business owners and/or business tenants in the Downtown Improvement Area, the Façade Improvement Program seeks to:

  • Encourage the continued vitality and economic vitality of the commercial core in all seasons;
  • Make the Town more attractive, inviting and pedestrian-friendly by encouraging consistency in urban design and signage while recognizing the importance of the existing historical architecture and the distinctive character within the community;
  • Reinforce the commercial core as a focus for the community;
  • Increase the marketability of the local business area by assisting building owners to attract and retain tenants;
  • Provide incentives for redevelopment of Main Street as an attractive entrance to the Town; and
  • Build civic pride among the business community and contribute to the quality of life of residents, workers and visitors in the Town.

For further information about the Façade Improvement Program, visit the Town of Penetanguishene website. 

The Town of Penetanguishene offers a property tax rebate for eligible heritage properties.

The Heritage Property Tax Rebate Program applies to the heritage portion of properties that are designated as having cultural heritage value or interest under Part IV of the Ontario Heritage Act (an individual property designation). Properties are designated under Part V of the Ontario Heritage Act and rated as having excellent, very good, or good heritage value. 

For further information about the Heritage Tax Rebate Program, visit the Town of Penetanguishene website.

Building community can be fueled by tangible projects that can be rallied around by all! 

“Making Place” by unifying our downtown with colour and hospitality creates a welcoming venue for visitors, residents and business owners. 

The goals of the Rejuvenate, Refresh Downtown Penetanguishene Program are to:

  • Beautify downtown with colour, naturalization etc. to provide a welcoming atmosphere.
  • Create a unified colour scheme for the downtown.

Working in cooperation with Heritage Penetanguishene, the Town will develop a colour pallet for the downtown that enhances building facades and rejuvenates heritage buildings in the downtown core.

A local sponsoring paint distributor will provide paint and supplies as required at cost.

Business owners can sign up for the program with their commitment to assist with painting other business facades

Business owners enrolled in the program will volunteer their time to paint neighbouring business facades and in turn have their building painted (owner to purchase paint for their own façade). Helping hands helping each other.

The program also encourages business owners to purchase planters at cost and participate in a Main Street planting evening. 

Township of Tay

Economic development incentives are delivered through the Township of Tay’s Zoning By-law and Development Changes By-law and through policy set by Council; for example:

  • Parking exemptions for small scale start-up businesses in our 3 village cores in Port McNicoll, Victoria Harbour and Waubaushene.
  • As of right permitted uses for Bed & Breakfasts and Home Occupations in residential zones.
  • Reduction of non-residential Township of Tay Development Charges in our 3 village cores and full exemption for industrial uses and farm buildings.
  • Heritage Tax Rebate.

As well, the Tay Shore Trail is a valuable recreation and tourism asset that Council continually promotes as an economic driver by integrating the Trail into land use policy and land use development decisions. 

Township of Tiny

The Township Zoning By-law currently permits the following as of right in certain zones:

  • Home Occupation
  • Home Industry

They are defined in our By-law as:

HOME OCCUPATION

Means the use of part of a dwelling unit for an occupation or business activity that results in a product or service and which is clearly secondary to the principal use of the dwelling unit.

HOME INDUSTRY

Means a small-scale industrial use with no show/display room, such as a carpentry shop, a metal working shop, a machine shop, a welding shop, a tool and die shop or an electrical shop that provides services or wares to the rural community and which is an accessory use to an agricultural use or a single detached dwelling. For the purpose of this By-law, the repairing of motor vehicles, mobile homes, trailers, and/or boats are not a home industry.

 

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