News and Updates
The Government of Ontario has announced that as of Thursday, February 17th, 2022 at 12:01 am the Province will ease some public health measures including, but not limited to:
Sign up for COVID-19 Business Updates on Municipal (local), Provincial, Federal and community information.
Support from the Town of Newmarket - Newmarket Economic Recovery Action Plan
The Newmarket Economic Development office is committed to supporting the immediate and long-term economic success of the business community in the wake of the COVID-19 pandemic. All requests for assistance as they pertain to COVID-19 are being processed through our Business Assistance Concierge Program. This program connects you directly with a case manager who can provide updates on programming, funding and on-going support during COVID-19.
To take advantage of the services offered by the BAC please email our Economic Development team, or contact Alex Al-jbouri at 905 895 5193 ext. 2753.
The Newmarket Economic Development team will continue to support businesses during this difficult time. To ensure the health and safety of our clients and staff, all business support activities will be conducted via phone and online. In certain circumstances, in person appointments can be arranged. Please contact our Economic Development team by email to set up a virtual, phone or in person appointment.
Provincial and Federal Funding Announcements - as of January 18, 2022
The Federal Government released a Wage and Rent Subsidies Eligibility calculator. Please visit the Government of Canada website to see if you are eligible for the new proposed expanded programs.
Wage and Rent Supports:
The following programs may provide wage and rent subsidies to impact businesses. In each claim period, employers can claim either the Tourism and Hospitality Recovery Program/Local Lockdown Program, Hardest-Hit Business Recovery Program or Canada Recovery Hiring Program.
As a business, charity or non-profit in Canada who has been affected by the COVID-19 pandemic, you may be eligible for a wage subsidy, a rent subsidy or both through the above programs if you are either part of the tourism, hospitality, arts, entertainment or recreation sectors OR affected by a qualifying public health restriction.
Who qualifies? For a list of those considered eligible under the Tourism and Hospitality Recovery and Local Lockdown program please visit the Federal eligibility site.
- Organizations operating in the tourism, restaurant, and in-person services may be eligible for guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
- Eligibility: Organization's financial institution will determine eligibility based on the eligibility criteria.
- Timeline: Applications open until March 31, 2022.
- Eligible large employers may qualify for bridge financing to meet needs that are not being met with conventional financing.
- Eligibility: Organization has a significant impact on Canada's economy, demonstrates approximately $300 million.
Canada Emergency Business Account Update:
The repayment deadline for the Canada Emergency Business Account (CEBA) is being extended to December 31, 2023. This applies to all eligible borrowers in good standing. Repayment on or before the new deadline will result in loan forgiveness of up to a third of the value of loans (up to $20,000) For more information please visit the Federal website.
Provincial Funding Announcements -as of January 18, 2022
Small businesses in Ontario who are subject to closure under the modified Step Two of Roadmap to Re-opening may be eligible to receive a one-time grant of $10 000. For details about provincial funding, please call 1866-668-8297 or click on this link for more information.
Ontario Business Costs Rebate Program
Organization impacted by lockdown measures and closures can receive a portion of their property tax and energy costs back via a rebate payment for the time that the lockdown occurred. For details about provincial funding, please call 1866-668-8297 or click on this link for more information.
Electricity Rate Relief
of January 18, 2022, electricity prices will be set to the current off-peak
rate of 8.2 cents per kilowatt-hour for 24 hours a day. The updated rate will be in effect for 21
days and will be applied automatically to residential, small businesses, and
farms who are paying regulated rates set by the Ontario Energy Board and get a
bill from a utility.