Funding Alert: Forest Sector Investment and Innovation Program (FSIIP)

Forest Sector Investment and Innovation Program (FSIIP) will assist Ontario forestry companies to develop and implement innovative technology and encourage innovation in products, services and processes to improve the competitiveness of Ontario’s Forest industry.

The Forest Sector Investment and Innovation Program (FSIIP) will assist Ontario forestry companies to develop and implement innovative technology and encourage innovation in products, services and processes to improve the competitiveness of Ontario’s Forest industry. 

This program is now accepting applications and the 2024 intake deadlines are:

• June 21 (checklist) + July 29 (full app)
• September 20 (checklist) + October 28 (full app)
• December 20 (checklist) + January 29, 2025 (full app)

Program Funding Amount

Eligible projects must have a minimum value of $3M+ to qualify for the following:

• Performance-based loans (interest-free): up to a maximum of 30% of eligible project costs; forgivable portion to a maximum of 50% of the loan amount.
• Grants: up to a maximum of 15% of eligible project costs may be considered in exceptional circumstances.

Total government funding cannot exceed 50% of project costs.

Eligible Applicants

Business projects: Eligible applicants are for-profit manufacturers and processors of wood and forest biomass across Ontario, such as sawmills, pulp and paper mills, secondary wood manufacturers, and bio-product manufacturers (utilizing forestry-based inputs).

• Ontario, federal, extra-provincial and foreign (incorporated Canadian/Ontario subsidiary), wood product manufacturing corporations.
• Open to existing operations, new plants and facilities, or spinouts / newly established subsidiaries of existing companies

Program Objectives

Support Ontario’s forestry sector by helping companies that use forestry-based inputs. The program will assist projects that display the following:

• Productivity: increase productivity through technical development and adopting leading-edge technology
• Innovation: New and novel technology, processes, or products
• Market Expansion: Increase market share; compete in global markets
• Job Creation: Create new jobs; train employees into highly skilled positions
• Regional Impact: Strengthen provincial supply chain and bolster regional economies

Eligible Projects

• Equipment and machinery purchases
• Facility modifications / upgrades
• Market expansion & marketing
• Research & Development
• Employee Training

Ineligible Expenses

• Restructuring, mergers and acquisitions, operational costs

Thinking of applying for financing? These funds are highly competitive, contact us today to get started!