CANADA NEWS RELEASE: Government Of Canada Investments To Help Businesses Thrive And Drive Economic Growth

Government Of Canada Investments To Help Businesses Thrive And Drive Economic Growth

Businesses and entrepreneurs in Toronto and southern Ontario gain access to programs designed to advance local economic growth

December 15, 2025

Federal Economic Development Agency for Southern Ontario

Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined investment of $6.7 million for two organizations, City of Toronto and Coralus, to strengthen main streets businesses, support local economic development, and drive resilient, sustainable economic growth in the region. Minister Solomon was joined by Chi Nguyen, Member of Parliament for Spadina–Harbourfront.

This includes an up to $4-million investment for the City of Toronto to deliver the Toronto Economic Resiliency Initiative (TERI). TERI includes help for small businesses to improve their spaces, support for BIAs and not-for-profits to ease the impacts of major transit construction, assistance for restaurants expanding outdoor dining opportunities, and investment in community development projects that reduce barriers for equity-deserving businesses. Together, these supports will help Toronto’s businesses remain vibrant, competitive, and central to the city’s long-term economic success.

The Minister also announced an investment of up to $2.7 million to Coralus, a Toronto-based not-for-profit organization that supports women and non-binary entrepreneurs. This funding will allow Coralus to expand programming across southern Ontario, helping entrepreneurs to make their businesses more economically resilient. While Coralus’ reach extends across the region, its Toronto roots highlight the city’s role as a launchpad for innovation and entrepreneurial leadership.

Small businesses are the engine of Canada’s economy, driving innovation, creating jobs, and building resilient communities. By investing directly in Toronto’s businesses and entrepreneurial ecosystem, the Government of Canada is reinforcing the city’s position as a driver of sustainable growth for all Canadians.

Quick facts

• Toronto is home to nearly 110,000 businesses and a workforce of 1.8 million people, with small- and medium-sized businesses (<100 employees) making up the vast majority.
• The City of Toronto’s TERI Program builds on a previous FedDev Ontario investment of $18 million for the City of Toronto to deliver the Main Street Recovery and Rebuild Initiative (MRRI), which supported over 870 Toronto businesses and organizations. This first-in-Canada approach helped to retain and attract new, locally-owned businesses, and restored commercial foot traffic and vibrancy to local neighbourhoods with a focus on marginalized communities within the city.
• Coralus (formerly SheEO Canada Fund) is a Toronto-based not-for-profit that provides wraparound support, including mentorship, networks, and resources, to women and non-binary entrepreneurs. Previously, Coralus received over $3.1 million in support through FedDev Ontario to expand its Women’s Activator Network across Canada, creating and maintaining over 520 jobs and supporting more than 750 women entrepreneurs.
• Since 2015, FedDev Ontario has provided over $790 million to support more than 780 projects in the Toronto census division, estimated to maintain nearly 58,000 jobs and create over 36,000 jobs.

Additional Resources

• FedDev Ontario
• Toronto Economic Resiliency Initiative
• Coralus

Contacts

Sofia Ouslis
Press Secretary
Office of the Minister of Artificial Intelligence, Digital Innovation and the Federal Economic Development Agency for Southern Ontario
sofia.ouslis@ised-isde.gc.ca

Media Relations
FedDev Ontario
media@feddevontario.gc.ca