Economic development incentives

Ontario

Canada

BLS & Co. periodically revises the state incentive pages to ensure our firm is providing the most current information on legislative and regulatory developments affecting available programs. Updates will be posted in the near future. In the interim, please call BLS & Co. with any questions at 609.924.9775 or reach out via email at info@BLSstrategies.com.

BLS & Co. periodically revises the state and province incentive pages to ensure our firm provides the most current information on legislative and regulatory developments affecting available programs. Please contact the BLS & Co. team at 609.924.9775 or email info@BLSstrategies.com for more information on the Northwest Territories, Yukon and Nunavut.

DIRECT FINANCIAL ASSISTANCE

Regional Grant Funds (Multiple Programs): Ontario offers multiple grant funding programs to support competitive economic development projects across the province. Competitive projects of strategic importance can receive grant awards of up to $1.5 million for forgivable loans up to $500,000 calculated as a percentage of eligible project costs. Eligible projects must create at least 15 new jobs and invest at least $500,000 to qualify.

TAX CREDITS

Ontario Made Manufacturing Investment Tax Credit: Tax credit that is available to Ontario manufacturers to support buildings, machinery and equipment used for manufacturing or processing. The credit is a 10% refundable corporate income tax credit. Eligible companies can receive a tax credit of up to $2 million a year.

Co-operative Education Tax Credit:  A refundable tax credit available to employers who hire students enrolled in a co-operative education program at an Ontario university or college.  The tax credit is based on salaries and wages paid to a student in a co-operative education work placement. Corporations can claim 25% of eligible expenditures. The maximum credit for each work placement is $3,000.

Ontario Research & Development Tax Credit (ORDTC):  The ORDTC is a 3.5% non-refundable tax credit on eligible R&D expenditures. Unused credits can be carried back 3 years and carried forward 20 years.

Ontario Business Research Institute Tax Credit:  Eligible corporations can claim a 20% refundable tax credit for qualified expenditures on scientific research and experimental development work performed in Ontario under contract with eligible research institutes. Qualified expenditures are capped at $20 million annually. The maximum annual tax credit is $4 million.

Ontario Innovation Tax Credit: This program offers a refundable tax credit to eligible corporations for qualified expenditures on scientific research and experimental development performed in Ontario. The tax credit rate is up to 8% of qualified expenditures and has a maximum annual expenditure limit of $3 million. The credit is limited based on the amount of the corporation’s federal taxable income and taxable capital.

Ontario Digital Media Tax Credit: In order to promote interactive digital media products, the province offers a refundable tax credit ranging from 35% to 40% for eligible expenditures on labor and marketing in Ontario. Eligible companies include Canadian corporations with permanent establishment in Ontario and which files an Ontario tax return.

WORKFORCE TRAINING

Canada-Ontario Job Grant (COJG) – Eligible projects can receive workforce training grants of up to one-sixth of eligible training costs up to a max of $10,000 per person.

Last Updated: July 2023

Tax Credits

Incentives & Exemptions

Grant and Financing Programs

Special Zoning

Job Training

Financing & Financial Assistance


Local Incentives

Other Programs

Interested in Learning More?

Contact us today at 609.924.9775 or info@blsstrategies.comto schedule an initial incentives strategy consultation.
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