Ontario Launches New Intake to Support Economic Opportunities in Rural Ontario
January 25, 2022New targeted intake will spur growth in rural communities affected by COVID-19
NORTH BAY – MPP Vic Fedeli has announced that the Ontario government is launching a new intake of the Rural Economic Development (RED) program on February 7, 2022 to help build rural Ontario by investing in projects that boost economic opportunities in rural and Indigenous communities, create jobs and strengthen the labour force.
“Our government understands rural communities in Ontario have been affected by COVID-19,” said Vic Fedeli, MPP for Nipissing. “This targeted RED intake focuses on initiatives that will attract new residents and workers to rural communities, while also creating opportunities for youth, workers and job seekers, and supporting innovative initiatives that position local businesses on a successful path forward.”
This funding will support initiatives that address barriers to economic development and position rural communities for economic growth and job creation, such as:
- Marketing and outreach campaigns to grow rural Ontario’s workforce.
- Connecting youth and apprentices to job opportunities and placements.
- Creating dedicated spaces such as innovation hubs and youth centres to develop partnerships and foster innovation.
Ontario’s Rural Economic Development (RED) program continues to support rural communities as they respond to the local economic impacts of the pandemic by supporting actions that will address barriers to economic development, and better position rural communities for economic growth and job creation.
Quick Facts
- Applications for the new targeted RED intake will be accepted from February 7, 2022 to March 7, 2022.
- The Government of Ontario has committed more than $15.2 million to fund more than 287 economic development projects through the RED program since 2019.
- Projects in the Economic Diversification and Competitiveness stream are eligible for up to 70 per cent cost share, up to a maximum of $150,000 per approved project.
- Projects in the Strategic Economic Infrastructure Stream are eligible for up to 50 per cent cost share, up to a maximum of $250,000 per approved project.
- The RED program supports projects with tangible benefits to rural and indigenous communities that help to attract business, investment, and create jobs, while also providing greater value for taxpayer dollars.
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