Province Investing $150,000 for The YSpace Northern York Region Hub

April 4, 2024

YORK-SIMCOE ― Today, Caroline Mulroney, MPP for York-Simcoe announced that the Town of Georgina will receive up to $150,000 in funding through the latest intake of the Rural Economic Development program (RED).

The RED program supports projects that diversify rural economies, retain skilled workers, and create jobs in local communities. The province is investing over $4.3 million in cost-share funding through the 2023 intake, which will support up to 80 projects across the province.

“I am thrilled to see our government continuing to invest in projects like The YSpace Northern York Region Hub, a growing entrepreneurial support centre for small business. The Rural Economic Development program is just one of the many ways our government is supporting job creation and economic development across the province,” said Caroline Mulroney, MPP for York-Simcoe. “This $150,000 investment will help expand on and support new programs that focus on quality mentorship and critical business skills for residents in York-Simcoe and the surrounding area.”

The YSpace Northern York Region Hub is a partnership between The Town of Georgina and the Town of East Gwillimbury and York University’s YSpace. The YSpace Northern York Region Hub creates an ecosystem of entrepreneurial resources, including mentorship, access to networks and co-working space for collaboration. This program encourages new business opportunities as well as personal and professional development for new and existing entrepreneurs. These resources and programs have been tailored to address specific needs identified within the local business community, have garnered significant participation, with over 700 individuals benefiting from our educational initiatives thus far.

“Our government values rural communities throughout the province, and this program provides municipalities, Indigenous communities, and not-for-profits with the funding they need for projects that contribute to local economic vitality,” said Lisa Thompson, Minister of Agriculture, Food and Rural Affairs. “The Rural Economic Development program is another example of how our government is ensuring small towns and communities across Ontario continue to share in the province’s growth and economic prosperity.”

The RED program provides cost-share funding support towards activities that create strong rural communities. This includes funding assistance to build local capacity and improve job prospects. The program aligns with the government’s priorities of removing barriers to investment, opening doors to rural economic development, and creating good jobs across the province.

QUOTES

“We are so pleased that YSpace Georgina is receiving another two years of funding to continue its incredible work of supporting entrepreneurs and local businesses,” said Mayor Margaret Quirk. “The partnership with East Gwillimbury and York University has been a great success, helping hundreds of new and existing entrepreneurs since the Incubator/Accelerator Hub opened its doors two years ago. I want to thank the province and the Rural Economic Development program for providing the funds to allow YSpace Georgina to continue to offer these important services.”  

~ Mayor Margaret Quirk

Town of Georgina

“There has been considerable success and positive impact of our partnership with the Town of Georgina and York University’s YSpace on our business community over the past two years,” says Mayor Virginia Hackson. “The funding from the Rural Economic Development Fund will allow us to build on the work we’re doing and will continue to support businesses in our communities with necessary tools and training, focused programming, and entrepreneurial resources.” 

~ Mayor Virginia Hackson

Town of East Gwillimbury

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MEDIA CONTACT

Marisa Patricelli
marisa.patricelli@pc.ola.org
905-895-1555