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Northern Ontario Heritage Fund
The Northern Ontario Heritage Fund Corporation (NOHFC) invests in northern communities through various programs. Established to support economic development,...
Northern Ontario Heritage Fund
The Northern Ontario Heritage Fund Corporation (NOHFC) invests in northern communities through various programs. Established to support economic development, NOHFC has made 16 investments to date. Its most recent investment was in Eco Carbon Foam, a grant recipient on October 07, 2022.
General information
Firm type
other
Location
Region
North America
Country
Canada
City
Ontario
Corporate office
Ontario, Canada
Frequently asked questions
Who oversees the Northern Ontario Heritage Fund?
The fund is administered by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry. Its board of directors is appointed by the Ontario government. Investment decisions are made by ministry staff, not private principals.
What types of funding does the Northern Ontario Heritage Fund provide?
The fund offers grants and loans through four programs: Business and Job Creation, Community and Economic Development, Infrastructure, and People and Talent. Examples include capital grants for forestry equipment, loans for mining infrastructure, and funding for municipal roads and broadband.
Is the Northern Ontario Heritage Fund a private investment firm?
No. The fund is a provincial government corporation. It does not manage discretionary assets for any family or individual. Its capital comes from annual Ontario budget allocations, not private investors.
What geographic area does the Northern Ontario Heritage Fund serve?
All funding must be used for projects physically located in the Northern Ontario region. This area covers districts including Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury, Thunder Bay, and Timiskaming.
How much does the Northern Ontario Heritage Fund disburse annually?
In fiscal 2022-23, the fund committed about $174 million across 1,300 projects, per its annual report. Typical annual commitments have ranged from $150 million to $200 million in recent years.
Does the Northern Ontario Heritage Fund make equity investments?
No. The fund primarily uses grants and conditional loans. It does not take equity stakes in recipient companies. Repayments are generally required only for loan components, with terms set by ministry policy.
What sectors does the Northern Ontario Heritage Fund prioritize?
Priority sectors include forestry, mining and mineral processing, manufacturing, tourism, renewable energy, and technology. The fund also supports community infrastructure projects such as water systems, roads, and broadband.
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