More than $5.4 million in grants for Toronto small businesses

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EQUIPO EDITORIAL
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City of Toronto Mayor John Tory speaks during a press conference regarding the court's stay of an earlier court ruling, returning Toronto's election to a 25-ward race, in Toronto on Wednesday, Sept. 19, 2018. Toronto Mayor John Tory plans to seek a third term at the helm of Canada's most populous city, ending months of speculation about whether he'd run for re-election. THE CANADIAN PRESS/Nathan Denette

Mayor John Tory announced that the City of Toronto and funding partners FedDev Ontario and Metrolinx are making more than $5.4 million in funding available this winter to help eligible local small businesses.

Mayor Tory was onsite at Berkeley Castle, 264 The Esplanade, alongside Jean Yip, Member of Parliament for Scarborough–Agincourt, Councillor Shelley Carroll (Don Valley North), Chair of the Economic and Community Development Committee, and local Councillor Chris Moise (Toronto Centre).

The City continues to support small businesses and main street vitality and is inviting eligible businesses and organizations to immediately apply for the new Transit Expansion Construction Mitigation Grant Program, the Main Street Innovation Fund and the Commercial Space Rehabilitation Grant program.

The City continues to support small businesses in Toronto including in the 2023 tabled Budget which continues to include a 15 per cent property tax rate reduction which has supported more than 29,000 small businesses.

To assist small businesses in Toronto in recovering from the impacts of the COVID-19 pandemic, the Government of Canada, through the Federal Economic Development Agency for Southern Ontario , is providing up to $18 million for seven inclusive and sustainable economic recovery projects.

To date, the Toronto Main Street Recovery and Rebuild Initiative (MRRI) has committed funding to support 270 entrepreneurs, more than 360 businesses and 64 community organizations. More information about MRRI is available on the program webpage.

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