New $1.1M Fund to Support Kingston Businesses
For immediate release
April 7, 2021
NEW $1.1M FUND TO SUPPORT KINGSTON BUSINESSES
Kingston Pandemic Business Recovery Grant
Kingston, Ontario – April 7, 2021 – Kingston Economic Development Corporation and The City of Kingston have partnered together to provide a funding program to support small to medium sized businesses in the City of Kingston that have been negatively affected by COVID-19. Kingston Economic Development Corporation will be administering the program with the overall objective to support business recovery and transformation.
The City of Kingston has contributed $600,000 and Kingston Economic Development Corporation has contributed $500,000 for a total fund of $1.1M. Kingston is unique in providing local grants to support businesses.
“I’m so pleased that Kingston EcDev is partnering with the City to offer a combined $1.1M business recovery grant,” says Mayor Paterson. “This will help Kingston businesses that have been hit hardest by the pandemic and recognizes those that have been ineligible for provincial and federal programs. This program is so important, especially as we head into another provincial lockdown, which will be incredibly challenging for the business community.”
Registered business that have been negatively impacted by COVID-19 located in the City of Kingston with under 50 employees and pay commercial rent and/or taxes are eligible to apply between April 6 and 30.
Kingston Economic Development Corporation will provide matching grant funding in the amount of 75% of eligible expenses to a maximum of $10,000 per eligible business/registration number (Total project value $13,333).
“Kingston Economic Development’s board is pleased to be partnering with the City to launch the Business Recovery Grant. As we enter another provincial shutdown, these funds will be more crucial than ever to maintain the vibrancy of our local businesses,” says Gillian Watters, Kingston Economic Development’s Board Chair. “By combining the funding contributions from Kingston Economic Development and the City, we make it possible to support even more businesses, including those that were not eligible for other funding streams.”
Businesses can claim funding for business sustainability training provided by a third-party provider, marketing, business model transformation, COVID-19 related business advisory services, and new equipment.
"COVID-19 continues to present many challenges to businesses especially as we navigate the third wave of the pandemic. We are pleased to offer additional financial support to businesses.,” says Shelley Hirstwood, Director of Business Development at Kingston Economic Development. “Our Business Advisors are here to support businesses that need assistance in completing this or other funding applications and can provide translation services or technical support if needed.”
Applications will be reviewed by an independent committee and scored based on the criteria established by City Council.
Applications close April 30; interested businesses can visit KingstonEcDev.com/BusinessRecoveryGrant for more information and to apply.
Communications & Events Officer
Kingston Economic Development Corporation
About Kingston Economic Development Corporation
Kingston Economic Development Corporation is focused on building a strong community and supporting Kingston’s thriving economy. Its mission is to provide dynamic and collaborative leadership by leveraging Kingston's unique assets to create jobs and investments in order to sustain, grow, and transform Kingston's economy to meet the needs of the 21st century.