York Region Economic Development’s monthly e-newsletter shares highlights and news from the business community, small business supports, events, economic data, and more.
IN THIS ISSUE
COVID-19 BUSINESS SUPPORT
- New Financial Support for Ontario Businesses Impacted by COVID-19
- Government of Canada Extends Loan Forgiveness Repayment Deadline for CEBA
- COVID-19 Business Resources & Funding Programs Overview
BUSINESS COMMUNITY & INVESTMENT NEWS HIGHLIGHTS
- Ontario Launches Program to Support Advanced Manufacturers Across Province
- Toronto Star: ‘Billion-dollar facility’ in the Works for Woodbine Ave in East Gwillimbury
- QEA Tech Finishes Third at Shenzhen Innovation & Entrepreneurship Competition
- Corum Digital Saw Surge in Demand for Safe Digital Signage in Time of COVID-19
SMALL BUSINESS & ENTREPRENEURSHIP HIGHLIGHTS
- 2021 Entrepreneurship and Innovation Fund Recipients Announced
- The Maker’s Mark, Selling Artisan Crafts in Newmarket, Marks First Anniversary
- Enhanced Agri-food Workplace Protection Program Extended to February 1, 2022
YORK REGION ECONOMIC DATA
- Unemployment Rates of York Region, Toronto CMA, and Ontario
- Office Vacancy & Availability Rates
- Industrial Vacancy & Availability Rates
BUSINESS EVENTS & OTHER INFORMATION
COVID-19 BUSINESS SUPPORT
New Financial Support Programs for Ontario Businesses Impacted by COVID-19
The Ontario government is providing targeted relief for businesses and people impacted by the current public health measures aimed at blunting the spread of the Omicron variant. This includes:
- Ontario COVID-19 Small Business Relief Grant | Eligible businesses subject to closures as a result of the province’s move to the modified Step Two of the Roadmap to Reopen will receive a grant of $10,000. Businesses that received a $10,000 grant through the Ontario Small Business Support Grant last year do not need to re-apply.
- Ontario Business Costs Rebate Program | Eligible businesses that are required to close or reduce capacity will receive rebate payments for a portion of the property tax and energy costs they incur while subject to these measures. The program is now open for applications.
- Improving Cash Flows for Ontario Businesses | The Ontario Government is assisting businesses by providing a six-month interest- and penalty-free period to make payments for most provincially administered taxes.
Government of Canada Extends Loan Forgiveness Repayment Deadline for the Canada Emergency Business Account
The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to nearly 900,000 small businesses and not-for-profit organizations to help them navigate the pandemic and remain resilient. However, the Omicron variant has delayed the recovery for businesses in many parts of the country. The repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing. READ MORE
COVID-19 Business Resources & Funding Programs Overview
To help you make sense of all the available funding programs and resources, we continue to update our COVID-19 Business Resource page. This page contains information on supports announced by the federal, provincial, and municipal governments, as well as, events, and other pertinent information to impacted businesses. You can find information on all programs such as the Canada Emergency Wage Subsidy, Canada Recovery Hiring Program, and more, over on our dedicated COVID-19 support page.
BUSINESS COMMUNITY & INVESTMENT NEWS HIGHLIGHTS
Ontario Launches Program to Support Advanced Manufacturers Across Province
The two-year, $40-million Advanced Manufacturing and Innovation Competitiveness (AMIC) program will support advanced manufacturing businesses to invest in the equipment, advanced technologies and skilled workforce needed to improve competitiveness and growth. READ MORE
Toronto Star: ‘Billion-dollar facility’ in the Works for Woodbine Avenue in East Gwillimbury
Who is the big multinational company coming to Woodbine Avenue in East Gwillimbury? That’s the hottest secret in town. Nobody can say yet, but East Gwillimbury council couldn’t hide their excitement at an imminent deal that could jumpstart economic development in the town. READ MORE
Markham-Based QEA Tech Shines at the Shenzhen Innovation & Entrepreneurship Competition-2021 With Third Place Finish
Markham-based QEA Tech, a climate-tech and energy audit startup, won a prize of $64,600 USD at the Shenzhen Innovation & Entrepreneurship Competition. QEA Tech was placed 3rd amongst 189 enterprises from Canada, the US, Australia, Japan, Israel, the UK, Germany, Spain, Netherlands, and China. READ MORE
Vaughan-Based Tech Company Corum Digital Saw Surge in Demand for Safe Digital Signage in Time of COVID-19
The Vaughan-based tech company Corum Digital Corporation earned its way onto Insight Business magazine’s global list of Top 10 Most Innovative Companies Revolutionizing Digital Signage 2021. Their signage is used by big clients such as Pearson International Airport, Volkswagen and KMPG. Not surprisingly, the company saw an uptick in demand during the pandemic. READ MORE
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SMALL BUSINESS & ENTREPRENEURSHIP NEWS HIGHLIGHTS
ventureLAB and York Region Announce Nine 2021 Entrepreneurship and Innovation Fund Recipients
ventureLAB and York Region are pleased to announce the recipients of the 2021 Entrepreneurship and Innovation Fund. The funds were presented to nine companies and organizations in York Region that demonstrate innovative solutions or services that support the development of the innovation network. Funded by the Regional Municipality of York, the fund allows local organizations to increase innovation and elevate sustainability in York Region, while expanding inclusion, diversity, and accessibility. READ MORE
The Maker’s Mark, Selling Artisan Crafts in Newmarket, Marks First Anniversary
Erin Gooderham and Meghan Larkin bonded on the artisan market circuit. Gooderham creates original drawings, paintings and prints under the company pea + GRUFF, while Larkin makes keepsake stuffed animals under the company Sew Shenanigans. In the middle of the pandemic, they launched The Maker’s Mark and recently celebrated their first anniversary. READ MORE
Want more small business news? Subscribe to the Small Business E-Newsletter
Enhanced Agri-food Workplace Protection Program Extended to February 1, 2022
The deadline to apply for the Enhanced Agri-food Workplace Protection Program has been extended to February 1, 2022. This will help agri-food businesses guard against the spread of COVID-19 in the workplace and support worker/employee health and safety. READ MORE
Want more agri-food news? Subscribe to York Region’s Agri-Food E-Newsletter.
YORK REGION ECONOMIC DATA
Unemployment Rates (%)*
*Statistics Canada, Labour Force Characteristics, 3-month moving average, unadjusted for seasonality
CMA – Census Metropolitan Area
Office Vacancy & Availability Rates
Source: CoStar | Statistics Note: Office building space at a minimum of 20,000 sq. ft.
Industrial Vacancy & Availability Rates
Source: CoStar | Statistics Note: Industrial properties include flex building space
BUSINESS EVENTS & OTHER INFORMATION
A Selection of Upcoming Business Events:
01/25 | ACCELERATE YOUR BUSINESS AT LUNCH | Aurora Chamber of Commerce
01/26 | THE FUTURE OF PROPERTY TECHNOLOGY DISRUPTION | TechConnex
02/01 | FOUNDER FUNDAMENTALS-FINANCE 101 | YSpace
Subscribe to our other monthly e-newsletters on these topics:
YORK REGION BUSINESS UPDATE / AGRI-FOOD / SMALL BUSINESS
York Link | York Region Economic Development
The York Link team are here to help and are committed to supporting local businesses. We are still providing business advisory and consultation services, information on business resources, support for startups, and more in a virtual capacity at this time.