The Investing in Regional Diversification (IRD) initiative supports the long-term development of stronger, more diverse economies in southern Ontario communities. The initiative leverages unique regional assets and local expertise to attract new investment and opportunities for economic growth and development.

Through Economic Action Plan 2013. the Government of Canada demonstrated its continued commitment to workers, families and communities in southern Ontario with the launch of the Southern Ontario Prosperity Initiatives, which includes the Investing in Regional Diversification .

About the Program

The Investing in Regional Diversification brings not-for-profit organizations and private sector/community partners together to build on economic strengths and opportunities to respond to challenges, and develop ways to create competitive and resilient communities.

Funding is available for eligible projects that:

• Enhance business attraction, investment and employment opportunities in southern Ontario regions and communities;
• Strengthen regional businesses and clusters with the goal of economic diversification and sustainability;
• Develop and expand collaborative efforts to strengthen regional assets and competitiveness; and
• Improve the economic circumstances of communities facing distress.

Who Is Eligible

The Investing in Regional Diversification is open to incorporated not-for-profit organizations located in southern Ontario, whose mandate includes economic development. To be considered, applicants must be working with private sector and other community stakeholders on projects that address capacity building or on-the-ground efforts to support the local economy, leading to enhanced opportunities for growth.

The initiative supports eligible not-for-profit organizations to undertake activities to diversify the economic base and have a regional impact by working with private sector and other community stakeholders to develop assets, such as:

Progress to Date

The Investing in Regional Diversification In Southern Ontario program is now underway — additional details on its progress will be provided in October.

Find Out More

For more information, please call 1-866-593-5505 or visit FedDevOntario.gc.ca .

• Diversification of Economic Assets (capacity building)

• Industry/sector cluster development and expansion
• Human capital retention and attraction
• Implementation of community/regional action plans