January 12, 2021 – London, Ontario
Canada’s COVID-19 Economic Response Plan has helped to protect millions of jobs, provide emergency support to families and keep businesses afloat as they deal with the impact of COVID-19. A central part of this is the Regional Relief and Recovery Fund (RRRF), which provides liquidity support to businesses and not-for-profit organizations affected by COVID-19 that are unable to access other federal relief measures or require additional support.
Over the course of the COVID-19 pandemic, FedDev Ontario has provided critical support for thousands of southern Ontario businesses and other organizations, helping them continue operations, protect jobs, cover costs and play a role in our economic recovery. Recognizing the pandemic’s continued strain on local economies, FedDev Ontario is delivering $184 million in additional funding in southern Ontario, and has extended and expanded eligibility criteria to help those still in need of support.
Protecting local jobs and supporting businesses from London to Sarnia to Chatham-Kent
Today, Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages and Member of Parliament for London West, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced that over 230 businesses and organizations from the London, Sarnia and Chatham-Kent areas received a total of $18.9 million in combined RRRF funding, protecting over 1,760 jobs in the region in 2020. This funding has supported the immediate needs of a broad range of businesses, from main street businesses such as retail shops, to restaurants and tourism operators to technology and manufacturing companies.
In a region largely powered by the manufacturing sector, businesses across southwestern Ontario have taken a significant hit due to closures and supply chain shortages resulting from the pandemic. The RRRF works to prevent losses and help businesses stay afloat, including URSA Manufacturing ULC (URSA) in London, a precision stamping and mechanical welded assembly supplier in the automotive industry. COVID-19 placed additional strains on URSA’s revenue generation, but assistance through the RRRF has helped URSA cover its short-term fixed operating costs and diversify into non-auto markets-keeping the company in business.
For Chocolatea, an artisan chocolate and premium tea retail shop in downtown Ingersoll, the pandemic has meant fewer customers, a drop in sales and the need to reduce hours. RRRF support, delivered through Community Futures Oxford, provided working capital to help the company with its cash flow needs.
Businesses and organizations in southern Ontario that have applied for other federal COVID-19 programs, but were unable to access sufficient relief, are encouraged to review RRRF eligibility requirements