Investment Ready: Certified Site Program
How It Works
Ontario's Investment Ready: Certified Site Program is a province-wide investment attraction program that provides financial and marketing support to those who complete a set of requirements and due diligence for an eligible property.
Investment Ready is in the final design stages with the full application process expected to open later in 2013.
Benefits of Certification
An Investment Ready site designation gives investors a greater degree of certainty when looking for development opportunities in Ontario municipalities by providing detailed information about availability, utilities servicing, access and environmental concerns. Providing this information can lead to faster site selection decisions and help get greenfield or expansion projects underway sooner.
Financial assistance will be available to help cover certain costs incurred during the certification process.
After successfully completing the certification process, Investment Ready sites will be profiled and promoted through a variety of Ontario government marketing channels, including:
- An international marketing campaign aimed at the site selection community
- Profile of certified sites on the www.InvestinOntario.com website
- Promotion of certified sites as part of the Select Ontario Geographic Information System (GIS) tool
- Profiling by government representatives at key global real estate, site selection and investment attraction events
Applications must be submitted jointly by either municipalities or Economic Development Organizations and the owner(s) of the site.
The mandatory requirements for a site to be eligible are:
- Site ownership - the program is open to properties owned by federal, provincial or local governments and private land owners. Property owners must be willing to enter into a funding agreement with the province to receive reimbursement through the grant program.
- Commitment to make the property available for sale/lease - the property owner(s) must be willing to make the property available for sale or lease for a period of two years following the date of certification.
- Minimum property size - the property or properties must consist of at least four hectares or 10 acres of contiguous developable area.
- Existing public road access - the property or properties must have existing road access from a public right-of-way or have plans to extend road access within six months of becoming certified.
- Official Plan and zoning - the property or properties must be located within a designated urban area in an in-effect municipal Official Plan, and must be designated and zoned to permit a range of industrial uses.
- Servicing and utilities - the property or properties must either be serviced by existing water and wastewater systems, natural gas (for sites in municipalities with existing natural gas service), utilities and telecommunications or, alternatively, can be serviced within a six-month period at a cost that can be reasonably estimated.
- Major development constraints - the property or properties must be free of development constraints that could reasonably impact the developable area or range of industrial or other employment uses on the property. Potential constraints include restrictions on title, identified flood zones and the presence of significant natural environmental features.
For updates or questions about the program, please contact email@example.com.