News and Updates
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The Province of Ontario announced that the Town of Newmarket and the PRovince of Ontario will move into Stage Three of re-opening as of July 16, 2021. For more details on what this means for you and your business please visit https://www.ontario.ca/page/reopening-ontario
Support from the Town of Newmarket - Newmarket Economic Recovery Action Plan
The Newmarket Economic Development office is committed to supporting the immediate and long-term economic success of the business community in the wake of the COVID-19 pandemic. All requests for assistance as they pertain to COVID-19 are being processed through our Business Assistance Concierge Program. This program connects you directly with a case manager who can provide updates on programming, funding and on-going support during COVID-19.
To take advantage of the services offered by the BAC please email our Economic Development team, or contact Alex Al-jbouri at 905 895 5193 ext. 2753.
The Newmarket Economic Development team will continue to support businesses during this difficult time. To ensure the health and safety of our clients and staff, all business support activities will be conducted via phone and online. To assist us in answering your question please fill out the form at the following link.
- Financing available up to $1 million for business continuity
- 4% interest rate and repayment terms of up to 10 years
- Program is available until June 30, 2021
- Retail, accommodation and food services, repair and maintenance, personal and laundry services and gyms and yoga studios with 2-9 employees can apply for a one time grant of up to $1, 000 to cover the costs of PPE dating back to March 17, 2020
- Qualifying renters and property owners can apply for a subsidy to cover part of their commercial rent or property expenses starting on September 27, 2020 until June 2021.
- CEWS has been extended until June 2021.
- CEWS helps employers pay employees during the COVID-19 pandemic
- The maximum subsidy rate is 65% (40% base rate + 25% top-up)
- You must apply within 180 days after the end of the claim period
- CEBA loans provide up to $60 000 in interest-free loans to businesses experiencing the negative impacts of COVID-19
- Replaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33% (up to $20,000)
- Applicants have until March 31, 2021 to apply for the $60 000 loan or the $20 000 expansion
- Eligibility requirements and more details can be found on the ceba-cuec.ca site