Incentives & Funding

Thunder Bay is committed to the advancement of the Mining Machinery & Equipment Industry in Northwestern Ontario. There are numerous incentives and funding programs for new and expanding businesses to offset costs and encourage research and innovation. These opportunities have been organized by municipal, provincial, and federal programs.

$260M Invested through FedNor

FedNor
Focused on supporting businesses in the North, FedNor provides funding assistance for community projects as well as private sector initiatives. There is a Targeted Manufacturing Initiative for Northern Ontario, providing funding to assist manufacturers in Northern Ontario to increase sales, exports, and to create more jobs.

Mineral Exploration Tax Credit
Delivered by Natural Resources Canada, this federal program supports mineral exploration by assisting investors with raising equity. It provides a 15% non-refundable tax credit on eligible expenses.

15 percent tax credit

35% Tax Credit Infographic

SR&ED
This federal program supports businesses that are investing in innovation. Companies that complete scientific research and experimental development in Canada may qualify for tax rebates through the SR&ED program.


Thunder Bay Incentive Programs

Port Authority Lands - Community Improvement Plan 

This Community Improvement Plan provides eligible property owners or tenants with the following three financial incentive programs, designed to stimulate investment and encourage redevelopment in the Project Area:

  1. The Port Tax Increment-Based Grant Program provides a grant equal to 100% of the increase in municipal taxes that result from reassessment of improved properties.
  2. The Port Development Grant/Loan Program makes it possible for the City to offer direct grants or loans, on an individual project basis, to offset the costs associated with major developments on lands in the Project Area.
  3. The Planning and Building Fee Grant Program provides a grant equal to 100% of the fees paid for most planning approvals and building permits.

Properties to be developed or rehabilitated by the programs include all the land designated as a Community Improvement Project Area under By-law 097-2010.


Ontario Incentive Programs

Queens ParkNorthern Ontario Heritage Fund Corporation - The NOHFC provides financial assistance to businesses that are committed to the economic growth and diversification of Northern Ontario. NOHFC provides up to 50% (to a maximum of $1 million) on capital expenditures, leasehold improvements, staff training, marketing, equipment purchases and land servicing, with up to one half of the funding in the form of a conditional grant, with the remainder in the form of a repayable loan. NOHFC also provides internship programs and incentive programs for R&D, Apprenticeship Tax Credit, and wage subsidies.

Ernest C. Manning Innovation Awards - Northern Ontario Chapter Chair - These awards celebrate Canadian Innovators. Awards are given to innovations that are commercially viable, and that support the provincial and national economy.

Industrial Research Assistance Program (IRAP) – Accelerate your business' growth with  support from IRAP. Funding is provided for innovative research and development programs as well as assisting with hiring recent graduates.

Ontario Research Fund: Research Infrastructure – Receive funding to improve research infrastructure by renovating facilities and purchasing equipment.

Ontario Research Fund: Ontario Excellence – Ontario supports businesses, allowing them to focus on their research by offsetting the cost of research operations such as salaries and supplies.

Ontario Research & Development Tax Credit - This program supports businesses in Ontario that are investing in scientific research and development. Tax credits are offered to businesses for qualifying expenses.

Canada-Ontario Job Grant - This program provides financial support for businesses wishing to invest in training for their employees.

Graduated Apprenticeship Grant for Employers - This program rewards businesses for hiring and training registered apprentices. Employers receive financial support each time their apprentice completes a level of schooling and completes their apprenticeship training.

Employing Young Talent Initiative - This provincial program provides financial support for businesses investing in hiring and retaining young employees.


Canadian Incentive Programs

Canadian flag wavingMineral Exploration Tax Credit - This program supports mineral exploration by assisting investors with raising equity.

FedNor - Focused on supporting businesses in the North, FedNor provides funding assistance for community projects as well as private sector initiatives designed to improve the economic and social well-being of the North. FedNor also offers internship programs. 

Scientific Research & Experimental Development Tax Incentive Program (SR&ED) - This federal program supports businesses that are investing in innovation. Companies that complete scientific research and experimental development in Canada may qualify for tax rebates through the SR&ED program.

Apprenticeship Job Creation Tax Credit - This program provides up to 10% of eligible wages as a tax credit for hiring a new apprentice.

For additional information please contact the Project Manager, Mining Services Sector at (807) 625-2480 or visit our Contact Us page.

Contact(s)

Video Resources

Downloadable Files

Mining Machinery & Equipment Industry Report

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Mining and Exploration Report

Mining and Exploration Report

 

Ontario's Mining Hub

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For additional information please contact the Development Officer at (807) 625-3960 or visit our Contact Us page.