The Forest Sector Investment and Innovation Program (FSIIP) is dedicated to processors and manufacturers of wood products in Ontario. Strategic investments seeking funding from the program should support new market access, improve productivity and innovation, strengthen regional economies, enhance competitiveness, and ultimately provide benefits to Ontario’s forest sector.
FSIIP offers funding via a Business or Collaboration stream, in which applicants can apply for a loan or grant of up to 30% of eligible project expenses, stream dependent.
The next deadline for the Forest Sector Investment and Innovation Program is March 20, 2020. Those who are not quite ready to embark on the upcoming cutoff are still encouraged to contact Mentor Works as we can help set you up for success in two additional 2020 deadlines.
FSIIP Business Stream
The Forest Sector Investment and Innovation Program – Business Stream offsets the costs of business expansion projects and helps companies who operate in the forestry sector to invest in new equipment and facility expansion.
Eligible applicants may receive a performance-based loan of up to 30% of eligible project expenses, where up to 50% of the loan may be forgiven if the company meets post-project investment, job, and payroll targets.
Applicant Eligibility
To be eligible for the FSIIP Business Stream, applicants should:
- Be a for-profit manufacturer and processor of wood and forest biomass across Ontario, such as pulp and paper mills, sawmills, secondary wood manufacturers, and/or bio-product manufacturers (utilizing forestry-based inputs); and
- Have a project budget of greater than $3M.
Harvesting and hauling companies/projects are ineligible.
Eligible Projects
Projects eligible for funding include:
- New investments into the forestry sector within Ontario;
- Those that create high-value, sustainable jobs in Ontario with a positive rural impact; and
- Operational investments that improve productivity, innovation, the potential to export goods, and competitiveness.
FSIIP Collaboration Stream
The Forest Sector Investment and Innovation Program – Collaboration Stream helps companies operating in the Ontario forestry sector to invest in facility expansion, new equipment, processes, and product innovation.
This stream of Ontario government funding offers up to 30% of eligible project expenses in non-repayable funding to a maximum of $3M.
Applicant Eligibility
Eligible projects must have an active involvement of at least three project partners (including at least one Ontario-based for-profit forestry and wood products company)
- Eligible project partners include:
- Forestry-related not-for-profit corporations;
- Ontario-based post-secondary education institutions;
- Incorporated not-for-profit industry associations representing a sector of Ontario’s forest industry;
- Ontario forest and wood products corporations;
- Federal forest and wood products corporations;
- Extra-provincial forest and wood products corporations; and
- Foreign forest and wood products corporations, provided they have incorporated a Canadian/Ontario subsidiary and such entity will be the applicant.
- Project budget must be greater than $3M.
Harvesting and hauling companies/projects are ineligible.
Eligible Projects
Projects eligible for FSIIP funding must have a transformative impact across Ontario’s forest and wood products sector through a focus on industry-leading innovation, the development and/or implementation of first-in-kind innovation, or adaptation or adoption of existing innovations such as:
- Process innovation/modernization with broad application;
- Projects that create high-value, sustainable jobs in Ontario with a positive rural impact;
- Product innovation, new product development with benefits up and down the supply chain;
- Operational investments that improve productivity, innovation, the potential to export goods, and competitiveness; and
- Product innovation, new product development with broad benefits across Ontario’s forest sector and/or other related sectors (e.g. wood building construction and design) of Ontario’s economy.
Apply for FSIIP Funding for Wood Manufacturing
The FSIIP Business and Collaboration streams have three upcoming deadlines:
- March 20, 2020
- June 19, 2020
- September 18, 2020
If your organization resonates with either of the two program streams, please contact Mentor Works and we can discuss your eligibility and how to optimize the application process.