Funding news digest – Week of Dec. 10

  • Prince Edward Island: The Government of PEI has renewed its Aerospace Tax Rebate Program for another 10-year period. The program provides a full rebate on all provincial corporate income tax to eligible aviation-related companies. Companies also receive a full annual rebate of all real property tax attributable to ownership or rental of facilities in Prince Edward Island.
  • Ontario: The Government of Ontario has announced the re-launch of the Small Feed-in Tariff (FIT) program. The Ontario Power Authority began accepting applications last week from proponents of renewable energy projects more than 10 and up to 500 kilowatts.
  • Northern Ontario: The Government of Ontario has announced it intends to extend and revise the Northern Industrial Electricity Rate (NIER) program for three years to support continued growth and development in northern resource and manufacturing sectors.
  • Ottawa: Invest Ottawa has  announced that the $11B Zhongguancun Development Group (ZDG) has chosen Ottawa as the second site in North America, and the only site in Canada, for its technology incubation centre. Funded with an initial $10M, the ZDG Ottawa International Incubation Centre is a partnership between Invest Ottawa and ZDG, a state-owned enterprise. To be initially housed at Invest Ottawa and staffed by a Chinese Director and three locally-hired staff, the tech incubator will provide funding and support to Ottawa-based technology startups wishing to enter the rapidly growing Chinese market.
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