While federal funding programs provide substantial support to businesses across Canada, provincial and territorial governments also offer region-specific investment programs tailored to local economic priorities. These provincial programs can sometimes be more accessible and better aligned with the specific needs of businesses operating in that region.
In this comprehensive guide, we'll explore the key business investment programs available in each Canadian province and territory in 2024, helping you identify the most relevant opportunities for your business based on your location.
British Columbia
BC Employer Training Grant
The ETG program supports skills training to address labour market needs. Employers can receive up to $10,000 per employee in funding for training costs.
BC Innovation Council Programs
The Innovate BC offers various programs including:
- Ignite Program: Up to $300,000 for industry/academia R&D partnerships
- Tech Co-op Grants: Subsidies for hiring co-op students
- BC Fast Pilot Program: Up to $200,000 for technology pilot projects
CleanBC Industrial Incentive Program
Provides funding to industrial operations to reduce greenhouse gas emissions. Businesses can receive rebates on carbon tax paid above $30 per tonne.
Alberta
Alberta Innovates Programs
Alberta Innovates provides a suite of programs focused on research, innovation, and commercialization:
- Product Demonstration Program: Up to $150,000 for technology demonstrations
- R&D Associates Program: Up to $120,000 over two years to hire researchers
- Micro-Voucher Program: Up to $10,000 for early-stage technology development
Alberta Jobs Now Program
Provides up to $25,000 per new hire to help private sector businesses and non-profit organizations hire and train unemployed or underemployed Albertans.
Saskatchewan
Saskatchewan Technology Startup Incentive (STSI)
A 45% non-refundable tax credit for eligible investments in early-stage technology startups, designed to encourage investment in innovative companies.
Innovation Saskatchewan Programs
- Saskatchewan Advantage Innovation Fund: Supports commercialization of innovative technologies
- Agtech Growth Fund: Provides funding for agricultural technology projects
Manufacturing and Processing Investment Tax Credit
A 6% refundable tax credit on qualified capital investments in manufacturing and processing equipment.
Manitoba
Manitoba Research and Innovation Fund
Supports research, development, and commercialization of new technologies.
Innovation Growth Program
Provides up to $100,000 in funding to Manitoba-based SMEs for developing and commercializing innovative products.
Industry Workforce Development Program
Supports workforce training and development initiatives to enhance skills and productivity.
Ontario
Ontario Regional Development Funds
A series of regional funds targeting business growth and job creation:
- Eastern Ontario Development Fund
- Southwestern Ontario Development Fund
- Northern Ontario Heritage Fund Corporation
These funds typically provide between 10-15% of eligible project costs up to $500,000 or more for larger initiatives.
Ontario Innovation Tax Credit
A 8% refundable tax credit for qualifying R&D expenditures.
Scale-Up Vouchers Program
Provides high-potential companies with vouchers worth up to $1 million to access growth services and resources.
Quebec
Quebec Economic Development Program (QEDP)
Promotes the long-term economic development of Quebec's regions with a focus on SMEs.
Tax Credit for E-Business (TCEB)
A refundable tax credit covering up to 30% of eligible salaries for qualified employees working in information technology.
Investissement Québec Programs
- ESSOR Program: Support for major investment projects
- Innovation Program: Funding for innovation projects
- Export Program: Assistance for companies looking to export
New Brunswick
NB Innovation Foundation Programs
- Start-Up Investment Fund: Equity investment for early-stage companies
- Scale-Up Program: Support for high-growth potential companies
NB Growth Program
Provides financial assistance to established businesses for capital projects that improve productivity and innovation.
Workforce Expansion Program
Wage subsidies to help create new permanent jobs or maintain seasonal employment.
Nova Scotia
Innovation Rebate Program
Provides up to 25% of eligible project costs for investments in innovation, automation, and technology.
Export Growth Program
Funding to help businesses develop and expand their export capacity.
Productivity and Innovation Voucher Program
Connects businesses with academic expertise to improve productivity or develop innovative new products and services.
Prince Edward Island
Innovation PEI Programs
- Development and Commercialization Fund: Up to $100,000 for product development
- Ignition Fund: Up to $25,000 for startups
- Advanced Marine Technology Tax Rebate: For marine technology companies
PEI Productivity Improvement Program
Helps businesses improve operational efficiency and productivity through grants covering up to 40% of eligible costs.
Newfoundland and Labrador
Business Investment Fund
Provides non-repayable contributions for business expansion and productivity improvements.
Research & Development Corporation Programs
- R&D Vouchers: Up to $15,000 for R&D projects
- Ignite R&D Program: For commercial R&D projects
Yukon, Northwest Territories, and Nunavut
Yukon Business Development Program
Provides financial assistance for establishing, expanding, or improving Yukon businesses.
Northwest Territories SEED Program
Support for Entrepreneurs and Economic Development program provides funding for business startups, expansions, and marketing initiatives.
Nunavut Small Business Support Program
Offers contributions for business planning, startup costs, capital acquisitions, and marketing activities.
Cross-Regional Programs
Regional Development Agencies
The federal government operates several regional development agencies that provide funding specific to certain regions:
- Atlantic Canada Opportunities Agency (ACOA): Atlantic provinces
- Canada Economic Development for Quebec Regions (CED): Quebec
- Federal Economic Development Agency for Southern Ontario (FedDev Ontario): Southern Ontario
- Canadian Northern Economic Development Agency (CanNor): Yukon, Northwest Territories, and Nunavut
- Western Economic Diversification Canada (WD): Western provinces
- Federal Economic Development Agency for Northern Ontario (FedNor): Northern Ontario
Tips for Navigating Provincial Funding Programs
1. Develop Relationships with Regional Representatives
Many provincial programs have regional offices with representatives who can provide valuable guidance. Establishing relationships with these individuals can give you insights into upcoming programs and application strategies.
2. Align with Regional Priorities
Provincial programs often reflect regional economic development priorities. When applying, emphasize how your project aligns with these priorities, such as job creation in targeted sectors or rural development.
3. Consider Cross-Border Operations
If your business operates in multiple provinces, you may be eligible for funding in each region. However, be careful not to double-count project costs across different applications.
4. Watch for Seasonal Intakes
Many provincial programs have specific intake periods or annual application deadlines. Create a calendar to track these dates and prepare applications well in advance.
5. Leverage Provincial and Federal Programs Together
Often, you can stack provincial and federal funding for the same project, significantly increasing your overall support. However, be aware of "maximum government assistance" limits that may apply.
Conclusion
Provincial investment programs provide valuable opportunities for businesses to access funding tailored to regional economic priorities. By understanding the landscape of programs available in your province, you can develop a comprehensive funding strategy that leverages both provincial and federal resources.
Remember that provincial programs frequently change, with new initiatives being introduced and others being modified or discontinued. It's important to stay informed about the current opportunities by regularly checking provincial economic development websites and subscribing to relevant newsletters.
For personalized assistance in identifying and applying for the most suitable provincial grants for your business, consider consulting with a regional business advisor or economic development officer who can provide insights specific to your location.