Coronavirus disease (COVID-19)
Canada’s Regional Development Agencies (RDAs) are one of the key platforms for economic development in Canada and help to address key economic challenges by providing regionally tailored programs, services, knowledge and expertise.
FedDev Ontario is closely monitoring the COVID-19 global challenge and the potential impact it could have on business and workers, as well as the broader economy.
The Government of Canada has announced a number of measures to help stabilize the economy. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses. Support includes:
- Temporary wage subsidies for small businesses;
- Access to credit through the Business Credit Availability Program (BCAP);
- Deferral of income tax payments owing on or after March 18;
- An Insured Mortgage Purchase Program;
- Augmenting credit available to farmers and the agri-food sector through Farm Credit Canada;
- Flexibility in the Canada Account limit to allow for additional support to Canadian businesses in exceptional circumstances;
- Enhancing the Work-Sharing Program to help employers who are experiencing a downturn in business due to COVID-19, and their workers;
- Introducing an Emergency Care Benefit to provide income support to workers who must stay home and do not have access to paid sick leave;
- Introducing an Emergency Support Benefit to support workers who are not eligible for EI and are facing unemployment.
For more information, visit Government of Canada’s COVID-19 Economic Response Plan.
To all our clients in repayment: Regional Development Agencies, including FedDev Ontario, are applying a three month deferral for companies in repayment. This deferral takes effect on April 1, 2020, and will relieve some of the pressure your business is facing. FedDev Ontario will work with you to formalize these deferrals into an amended repayment schedule and outline other measures that may help your business.
For more information, please see the questions and answers.
If you are a tourism operator or small- or medium- sized business or organization that has received FedDev Ontario funding and COVID-19 is affecting your operations, you are encouraged to contact your project officer as you may be eligible for flexible arrangements.
If you are a tourism operator or small- or medium- sized business or organization impacted by the sudden shifts in the economy, FedDev Ontario can help you navigate the support available.
For more information on additional government support available to your business and workers, please contact Service Canada at 1-800-OCanada (1-800-622-6232).
Visit the Public Health Agency of Canada website for the latest information.
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