Moving at the speed of business

Isn’t that the slogan for a courier company? Anyway, check this out:

Ontario is launching its NextGeneration of Jobs Fund to give companies quicker decisions so they can get projects off the ground and create opportunity for families. The Next Generation of Jobs Fund is part of Ontario’s plan to keep pace with changes in the global economy and create jobs. The government is providing $1.15 billion to support companies whose products reduce pollution, save energy, make transportation more efficient or help the environment in other ways. The government is now accepting applications.

Companies are guaranteed a decision within 45 days of submitting a complete proposal. In many cases, 20 per cent of funding is provided upon signing.

There are several reasons why this is interesting: 1) the size $1.15 billion. Remember, this is just one of many provincial (and federal) funding programs available to firms; 2) the use of the phrase “create opportunity for families”. There is more effort to link in economic development incentives to social issues; 3) the green angle.

But the most important issue is the 45 day guarantee of decision. In New Brunswick, a company could wait months if not more than a year to get a decision.