Incentives

Incentives

The Greater Sudbury Development Corporation is dedicated to accelerating wealth-producing, job-creating private sector investment. We work with individual companies and community organizations to thoroughly understand their business model, value proposition and growth needs on a confidential basis.

Public sector financial incentive programs are available to reduce the longterm cost of opening a new facility, expanding an existing one or stimulating a not for profit economic development project or initiative. Each program carries its own set of eligibility criteria. Programs can be combined in certain situations. Our experienced business development team is available to work with you to determine the programs for which your project may be eligible. Make the GSDC your first point of contact to discover opportunities in Greater Sudbury.

Aside from being a beautiful place to live, Northern Ontario also offers unique incentive programs, like the Northern Ontario Heritage Fund Corporation (NOHFC), a service agency of the Ontario government. NOHFC’s mandate is  to promote and stimulate economic development initiatives in Northern Ontario by providing financial assistance to projects that stabilize, diversify and foster the economic growth and diversification of the region.

Sudbury Catalyst Fund

The Sudbury Catalyst Fund is a $5 million venture capital fund that will help entrepreneurs  scale-up their business ventures in Greater Sudbury. The Fund will provide investments of up to $250,000 to qualifying early-stage and innovative firms operating within Greater Sudbury. Once complete, this five-year pilot project is expected to help up to 20 start-up companies expand, allowing them to develop and commercialize new products and technologies, while creating up to 60 full-time high-quality local jobs.

This fund will make equity investments to:

  • Produce a financial return;
  • Create local jobs; and,
  • Strengthen the local entrepreneurial ecosystem

The Fund has been created with a $3.3 million investment by FedNor as well as $1 million from the GSDC and $1 million from Nickel Basin.

Start-up companies that are interested in accessing the Sudbury Catalyst Fund, must first apply through the Northern Ontario Angels program. If approved, a recommendation will be made to Nickel Basin Federal Development Corporation to apply for the Sudbury Catalyst Fund. For more information on the Sudbury Catalyst Fund, please contact Nickel Basin Federal Development Corporation.