Ontario Helping Aboriginal Businesses, Communities Create Jobs

February 24, 2015

Ontario is partnering with six Aboriginal Financial Institutions to invest $15 million over three years in eligible Aboriginal businesses, organizations and communities. The institutions were selected for their expertise, understanding and dedication to promoting and underwriting Aboriginal business development. They include:

 

Each institution will receive $2.5 million and will use the funding to provide grants for economic capacity-building projects in Aboriginal communities, and business financing for promising community projects and Aboriginal-owned businesses.

 

Improving economic development opportunities for Aboriginal Peoples is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.

 

QUICK FACTS

 

  • The $15 million in funding comes from the Business and Community Fund which is part of the larger Aboriginal Economic Development Fund.

  • As part of Ontario’s Jobs and Prosperity Fund, the AEDF is providing new employment, training and business opportunities for Aboriginal people across Ontario.

  • Aboriginal businesses, organizations and communities can apply now to the Aboriginal Financial Institution partners closest to them. Métis applicants are also able to apply directly to the Métis Voyageur Development Fund for support.

  • Over the next three years, funding is expected to create or sustain up to 400 jobs and help create more than 100 new Aboriginal-owned businesses.

  • There are more than 9,000 entrepreneurs in Ontario who identify as First Nation, Métis or Inuit. 

 

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