Government Funding for Flying Colours Corp. Expansion

PETERBOROUGH, ONTARIO

The member of Parliament for Peterborough-Kawartha, and on the behalf of the Minister of Innovation, Science and Economic development and the Minister of responsible for the Ontario branch of FedDev, announced a funding initiative of up to $4.87 in grants, loans and subsides to the Flying Colours Corp for it’s expansion initiative.

The Federal Government, with its’ new vision developed in the 2016 Canada Budget, wants to make Canada the center of global innovation, in science, technology and creativity for companies. With this, helping companies as Flying Colours Corp., to succeed in exporting and marketing its technologies and any future services.

The Flying Colours Corp. is a global aviation services compay, its main service is to retrofit aircrafts and provide fully customized aircraft interiors, with the latest in technologies and state of the art equipment. The repayable and non repayable contributions from Fed Dev, is to develop Flying Colours 100,000 square foot hangar at the Peterborough Airport. This new hangar will enable the company to worker on larger aircraft, and meet the increased global demand the company is receiving.
The investment will also help 200 Ontario based suppliers that provide materials to Flying Colour Corp.

Quick Facts:

• With a total project cost of $20.15 million, this project will leverage a $1.2-million investment from the Government of Ontario and more than $14 million from private sector investment. The project is also expected to create up to 50 skilled manufacturing, engineering, management and technical field full-time equivalent jobs.

• Established in 1994, Flying Colours Corp. previously received a repayable contribution of up to $900,000 from FedDev Ontario to expand its facilities and acquire new equipment. The successful completion of this project resulted in 37 new jobs and has positively benefited the surrounding community.

Canada Jobs Grant Proposed Changes

Proposed Canada Jobs Grant: Flexible Options for Small Businesses

Ottawa, Ontario October 8th, 2013

According to Federal Employment Minister Jason Kenney, the Canadian Government is committed to improving access to the proposed Canada Jobs Grant program for small businesses.

The current framework would allow cost-shared training subsidies of up to 15,000$ per employee per company. Under the new Government Business Grants proposal, small businesses would be eligible to contribute a smaller share of the total cost, previously pegged at 33% for all Employers. Mr. Kenney has stated that the two-thirds Government Subsidy would now be an average, larger companies would receive a smaller subsidy than their small and medium business counterparts that take part in the program.

“We’re flexible about the precise ratios,” he said. “We’ve listened to business groups, employers saying to us: ‘Look, the micro-businesses, the really small mom-and-pop, owner-operated stores, they can’t necessarily afford to put up one-third of the money for the training costs.’ On the other hand, the big companies can afford to put in a lot more.”

The Federal Government is making headway in establishing another Government Business Grant that will be of particular use to small businesses across Canada. Although this program is not yet available, we encourage you to contact the Canadian Grants Business Center for information pertaining to the other programs currently available.

 

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