Ontario Grants Peterborough $150,000 for Start-Up Visa Program and Commits $5 Million to Rural Economic Development

Peterborough MPP Dave Smith announced that the Start-Up Visa Program will receive $150,000 in funding through Ontario’s Rural Economic Development (RED) program on Thursday.

Dave Smith makes announcement on Thursday with Mike Skinner, CEO of Innovation Cluster. Photo by Angela O’Grady.

The Start-Up Visa Program, implemented by the Innovation Cluster, will allow entrepreneurs to immigrate to Canada by starting a business, creating jobs and diversifying the community.

“Diversifying and developing our local economy by investing in new ideas and new Canadians will deliver long-term economic growth. this direct investment will foster wider, sustainable growth in the city and county of Peterborough,” said Smith. “Unique programs such as the Start-up Visa program will enable new entrepreneurs to invest in our community and strengthen our economic recovery.”

In addition to the Start-Up Visa program, the Ontario government is committing $5 million in cost-share funding under the next intake of the RED program to help rural communities implement additional economic growth plans to address the economic impacts of COVID-19.

“Supporting local jobs and economic development in rural communities is more important than ever,” said Lisa Thompson, Minister of Agriculture, Food and Rural Affairs. “As the economy continues to reopen our investments in the RED program will have a very real impact for communities across rural Ontario.”

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