The Forest Sector Investment and Innovation Program (FSIIP) is a pivotal initiative by the Government of Ontario aimed at enhancing productivity, competitiveness, and innovation within the forestry sector. Launched as part of Ontario’s broader Forest Sector Strategy, FSIIP provides financial support to for-profit manufacturers and processors of wood and forest biomass. By targeting projects that improve operational efficiency, drive technological advancements, and support sustainable job creation, FSIIP is instrumental in fostering a resilient and innovative forestry industry in Ontario.
Funding Snapshot: Forest Sector Investment and Innovation Program (FSIIP)
The Forest Sector and Innovation Program (FSIIP) is designed to increase growth and sustainability within Ontario’s forestry sector through targeted financial support.
Funding Amount
FSIIP offers a Performance Based Loan:
- Up to 30% of eligible project expenses.
- Up to 50% of the loan may be forgiven if investment, job creation, and payroll targets are met post-project.
Eligible Applicants
To qualify for FSIIP, applicants must:
- Be for-profit manufacturers and processors of wood and forest biomass in Ontario.
- Include sawmills, pulp & paper mills, secondary wood manufacturers, and bio-product manufacturers.
- Have a project budget exceeding $3 million.
- Note: Harvesting and hauling companies/projects are ineligible.
Eligible Projects
Projects must:
- Introduce new investments into Ontario’s forestry sector.
- Focus on operational investments improving productivity, innovation, export potential, and competitiveness.
- Create high-value, sustainable jobs with positive rural impacts across Ontario.
Program Deadlines
Mark your calendar for the next intake:
- Stage 1: September 20, 2024.
- Stage 2: October 28, 2024.
Access More Agribusiness Grants
FSIIP is a cornerstone initiative driving Ontario’s forestry sector forward, fostering innovation, and bolstering economic resilience. By leveraging this opportunity, businesses can not only enhance their operations but also contribute to Ontario’s sustainable growth.
Prepare your project for success with FSIIP. Visit our website for detailed application guidelines and ensure you don’t miss the upcoming intake deadlines.
Did you know you can stack government funding programs to receive up to 75% cost coverage? Stacking programs is the best way to maximize funding coverage for a project, while reducing your risk. Download our free guide to learn which programs your business is set to stack.