Grants & Programs
Digital Transformation Grant, business financing, funding for hiring, and municipal grants and funding.
DIGITAL MAINSTREET
FINANCING
Downtown Development Loans
The Community Development Corporation of Sault Ste. Marie & Area (CDC) and the Sault Ste. Marie Economic Development Corporation (SSMEDC) have partnered to offer a special loan fund to help stimulate economic activity in the Downtown Core, as defined by the City of Sault Ste. Marie’s Downtown Improvement Plan Area. The map below shows the eligible area.
Amount of Support:
Maximum support of $100,000
Repayable loan, with flexible payment terms
A portion may be forgiven if the business maintains operations downtown and has achieved job creation/sustainment targets.
Eligible Businesses:
Existing business, currently located downtown
Existing business, relocating to the downtown
New business, to be located downtown.
Pop Up shop, to be located downtown (max support $20K).
Eligible Costs:
Start up Costs
Relocation Costs
Inventory
IT Upgrades
Equipment
Renovations
Working Capital
For more information, contact 705-942-9001
Financing For Small Business Growth (RISE)
Whether you need a small amount to attend an event or trade show, or up to $10,000 to launch or grow your business, our low-interest loans and mentorship can support you.
BDC Equipment Purchasing Financing
BDC helps Canadian businesses invest in equipment to expand and modernize operations, or replace outdated machinery so that they can increase production and fuel their growth.
Learn More Here.
FUNDING FOR EQUIPMENT UPGRADES
Save on Energy Small Business Program
Drive your business forward with Save on Energy incentives of up to $2,000 for eligible lighting equipment and up to $2,500 for eligible non-lighting equipment.
The Save on Energy Small Business program is designed to help small businesses across Ontario make equipment improvements to reduce their energy consumption, at no cost. Leveraging the success of the former Small Business Lighting program, this new and improved program offers small businesses direct-install incentives on an expanded range of equipment – both lighting and non-lighting. An investment in energy-efficient equipment upgrades is an investment in enhancing your customers’ experience, employee satisfaction and your bottom line. Save time and money when you participate in the Small Business program.
FUNDING FOR HIRING
Young Canada Works
Young Canada Works in Both Official Languages (YCWBOL) is a short-term job program. Eligible employers may benefit from salary subsidies and access to a pool of talented youth with innovative ideas and competitive skills.
Positions last from six to 16 weeks. Students with a disability are eligible for part-time positions in Canada only.
Hire A Young Person
Hire a young person through Employment Service, Youth Job Connection or Youth Job Connection Summer – see how these programs can benefit you as an employer and learn more about new financial incentives for small businesses.
Canada Summer Jobs
Canada Summer Jobs provides wage subsidies to employers from not-for-profit organizations, the public sector, and private sector organizations with 50 or fewer full-time employees, to create quality summer work experiences for young people aged 15 to 30 years.
Workforce Development Stream
The intent of the Workforce Development Stream is to strengthen and develop Northern Ontario’s workforce through business partnerships by offering internships.
Canada-Ontario Job Grant
Canada-Ontario Job Grant (the Job Grant) provides an opportunity for employers to invest in their workforce, with help from the government.
The Job Grant will provide direct financial support to individual employers who wish to purchase training for their employees. It will be available to small, medium and large businesses with a plan to deliver short-term training to existing and new employees, and will:
Provide up to $10,000 in government support per person for training costs.
Require employers to contribute one-third of the total costs. There will be additional flexibility for small businesses to provide an in-kind contribution towards their share of the costs.
Require training to be delivered by an eligible, third-party trainer.
MUNICIPAL GRANTS AND FUNDING
Economic Growth Community Improvement Plan grant programs
These are for projects located anywhere within Sault Ste. Marie that diversify the local economy and stimulate job growth, by attracting new businesses and expanding existing ones that are primarily engaged in export-oriented activities.
There are two different grant programs included within this:
1. An annual grant of up to three years to fully or partially offset property tax increases resulting from improvement of lands and/or buildings.
2. A one-time grant of up to $100,000 per project, or as approved by City Council.
To consult City staff about the Economic Growth grant programs, please contact Peter Tonazzo, Director of Planning at 705-759-2780 or p.tonazzo@cityssm.on.ca.
Economic Development Fund (EDF)
The purpose of this fund is to support job creation, support the increase of new tax assessment through new investments, and to support economic development projects. City Council annually establishes the funding support for the EDF (i.e. the total amount available each year varies).
Projects can be located anywhere within Sault Ste. Marie.
Businesses are required to apply to this fund through the Sault Ste. Marie Economic Development Corporation, or another non-profit economic development organization.
Rental Housing Community Improvement Plan
This financial incentive program is available for developers who create a minimum of four new rental housing units on any property that is zoned to permit apartment buildings or multiple attached dwellings (townhouses).
The incentive is in the form of a Tax Increment Equivalent Grant.
Guide and application form here: https://saultstemarie.ca/Cityweb/media/Engineering-and-Planning/Planning/Strategic%20Long%20Range%20Planning/RentalHousingCIPApplication.pdf
City staff to contact: Steve Turco, Senior Planner at 705-759-5279 or s.turco@cityssm.on.ca
Financial Assistance for non-profit organizations
These are for not-for-profit organizations based in Sault Ste. Marie with demonstrated financial need.
See: https://saultstemarie.ca/Cityweb/media/Finance/FinancialAssistancePolicySustainingGrants.pdf
Please contact the City’s Finance Office for more details: 705-759-5350 or finance@cityssm.on.ca
Heritage Properties Designated Property Grant
For owners of designated heritage properties to perform work towards conservation or restoration of their properties: https://saultstemarie.ca/Cityweb/media/Community-Services/Heritage%20Sites/Heritage%20Committee/Designated-Property-Grant-(Guidelines-Application).pdf
Heritage Property Tax Rebate
For owners of designated heritage properties: https://saultstemarie.ca/Cityweb/media/Community-Services/Heritage%20Sites/Heritage%20Committee/Application-Heritage-Property-Tax-Rebate-Full-(New-Applicant).pdf
Cultural Financial Assistance
For not-for-profit organizations or individuals in Sault Ste. Marie involved in cultural activities: https://saultstemarie.ca/City-Hall/City-Departments/Community-Development-Enterprise-Services/Community-Services/Recreation-and-Culture/Cultural-Advisory-Board/Cultural-Financial-Assistance.aspx