FedDev Ontario’s Regional Relief and Recovery Fund protects more than 2,900 jobs in Waterloo and surrounding regions

From: Federal Economic Development Agency for Southern Ontario

January 12, 2021 – Waterloo, 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 in the Waterloo and surrounding regions

Today, the Honourable Bardish Chagger, Minister of Diversity and Inclusion and Youth and Member of Parliament for Waterloo, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced that over 330 businesses and organizations in the Waterloo and surrounding regions received a total of $30.4 million in combined RRRF funding, protecting more than 2,900 jobs in the region. This funding has supported the immediate needs of a broad range of businesses, from tech companies and manufacturers to main street businesses such as retail shops and restaurants.

Waterloo-based DigitalEd has created Möbius, an innovative industry-leading digital learning platform for science, technology, engineering and mathematics. The platform provides lessons, assessments and interactive learning activities that engage students at a guided yet self-defined pace. With support from RRRF, this woman-led company was able to manage its fixed operating expenses and continue creating online educational opportunities at a time when digital learning has become a reality for many students. In addition to its North American partners, DigitalEd has also been able to expand its platform into Japan and China, further positioning the company for sustained future growth.

In Brantford, when the pandemic hit and sales were put on hold, Cravo Equipment Ltd. (Cravo)-a manufacturer of greenhouse structures and innovative retractable roof systems-temporarily closed its doors until measures could be introduced to keep employees safe. With RRRF funding to cover fixed operating expenses, such as utilities, insurance, IT expenses and professional fees, Cravo was able to successfully and safely bring back office and plant employees.

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

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