New data released by The Funding Portal shows how critical government funding is for many Canadian businesses seeking capital to expand.
Throughout 2014, Canadian governments delivered $14.4 billion in grants and tax credits to organizations across a range of industries, with manufacturers securing more than $3 billion during the year.
Nearly half of the funding disbursed to all businesses in 2014, 49.6%, flowed to companies in Ontario.
“The 2014 data makes both the volume and diversity of government funding programs in Canada very clear,” said Funding Portal CEO Teri Kirk.
Tech and digital media ranked third with $276M in Q4 ($1.32B in 2014). Q4 was a slow quarter for cleantech, with $109M secured ($407M in 2014).
Quebec attracted the second highest level of awards in Q4 with $896M ($3.1B in 2014). B.C. ranked third with $238M in Q4 ($958.6B in 2014).