Wolf Steel’s Ontario Business Funding Success Story
Wolf Steel has leveraged a number of Ontario business grants and repayable funding programs to help support its 574-employee business. This recent funding success through SWODF will lead to a total of 176 new jobs in the region, as the business looks to bring US manufacturing processes to Canada. With additional impacts throughout their supply chain.
Currently, Wolf Steel manufacturers wood and gas fireplaces in their Barrie facility, while their HVAC equipment is manufactured in the United States. The $1.5 million SWODF investment will allow Wolf Steel to expand their facility and start manufacturing heating and air conditioning equipment in Ontario.
Ontario Business Grants via the Southwestern Ontario Development Fund (SWODF)
SWODF launched in October 2012. Since that time, the successful Ontario business funding program has invested $50 million into business expansion projects worth an excess of $580 million. Funded businesses are expected to create a total of over 2,400 new jobs in southwestern Ontario, as well as retaining 11,500 existing jobs in the region.
The SWODF program is still accepting applications from southwestern Ontario based businesses. According to SWODF, southwestern Ontario consists of the following regions: Brant, Bruce, Chatham-Kent, Dufferin, Elgin, Essex, Grey, Haldimand, Huron, Lambton, Middlesex, Niagara, Norfolk, Oxford, Perth, Simcoe, Waterloo, Wellington.
SWODF covers up to 10-15% of eligible expenses in Ontario business grants. Applicants need to be in business for at least 3 years and commit to creating at least 10 new jobs as a result of their project if they have at least 10 employees. Projects must be at least $500,000 in size and be conducted over 2-4 years.
Businesses with 5-10 employees can still apply under the Small Community Stream and must increase their workforce by 50% as a result of the project. Projects in this stream must meet the minimum project size of $225,000.
Interested in Business Expansion Funding?
Mentor Works offers free funding webinars and workshops on a number of strategic initiatives and industries. Feel free to register for an upcoming funding event to learn more about Ontario business funding to support your growth activities. Feel free to follow me on Twitter to receive funding updates right in your home feed.