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Additional financial support for business sector

MP Neil Ellis provides an update on support measures that will be made available to a variety of business sectors that continue to be affected by the ongoing COVID-19 situation.

The Government of Canada will provide:

• $675 million dollars to Canada’s Regional Development Agencies to deliver financing support to small and medium-sized businesses that cannot access existing emergency support programs offered through Canada’s COVID-19 Economic Response Plan
• $250 million dollars through the National Research Council of Canada’s Industrial Research Assistance Program to support innovative, early-stage companies are unable to access existing emergency support measures.
• $500 million dollars through the COVID-19 Emergency Support Fund for Cultural, Heritage, and Sport Organizations to deliver assistance to artistic and athletic organizations which have had their events cancelled or postponed due to COVID-19.
• Targeted supports to create and protect jobs for the men and women working in our energy sector, and advance towards our environmental targets by delivering:
o $1.72 billion dollars to clean up orphan and inactive oil and gas wells;
o $750 million dollars to create a new Emissions Reduction Fund; and
o Adapted eligibility criteria for the new BCAP program to help medium-sized businesses including those in the energy sector.

All local businesses interested in acquiring help from our local RDA, FedDev Ontario, should refer to: http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/home.

Canada’s COVID-19 Economic Response Plan can be reviewed at: https://www.canada.ca/en/department-finance/economic-response-plan.html.

For current updates on all COVID-19 advisories, MP Ellis encourages everyone to visit: Canada.ca/coronavirus.
 

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Cloud Bookkeeping Services - 10% OFF
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