Product traceability and diet-specific consumer demands are just two examples of the market-driven challenges this industry faces. No matter the source, every challenge affects the entire business. The Federal and Provincial governments have introduced funding programs to assist food and beverage manufacturers with several areas of industry-specific projects including food research, food testing and marketing-related activities.
Programs of interest
Scientific Research & Experimental Development (SR&ED): A tax credit that provides funding for activities focused around innovation, new products or processes, and helping increase capital.
Canada Small Business Financing Program (CSBFP): A loan program that partners with your financial institution to make their financing available to your small business.
Yves Landry Foundation Achieving Innovation and Manufacturing Excellence (AIME):Training-focused, to improve Southern Ontario’s manufacturing sector’s competitive standing within the global market.
The Co-operative Education Tax Credit (CETC): Available to employers who hire students enrolled in a co-operative education program at a University or College in Ontario. A maximum credit of $3,000 per student per each work placement.
Ontario Power Authority SaveOnEnergy Programs (OPA): Reduce energy consumption and save money on facility energy bills.
NRC Industrial Research Assistance Programs (IRAP): Provides funding to qualified firms and their innovative research and development related projects.
Ontario Exporters Fund (OEF): Assists SMEs become export ready and help them gain/increase access to international export markets.