Ontario Tourism Recovery Program
The Ontario Tourism Recovery Program (OTRP) begins October 13, 2021 and will provide support to eligible for profit tourism businesses that have experienced a decline in revenue of at least 50% due to Covid-19.
The funding can be used for expenditures such as operating expenses including salaries or marketing costs to attract visitors.
Eligible requirements include having issued at least one T4 in 2019 as well as other specific criteria.
Businesses that qualify could be eligible for funding up to the lesser of 20% of the decline in revenue, and wages paid in the 2019 fiscal year, up to caps established by the Ontario government.
Businesses who have received funding through the Ontario Small Business Support Grant or the Ontario Tourism and Travel Small Business Support Grant are still eligible to apply for this program.
Businesses will need several documents to apply including annual financial statements for each year between 2018 and 2021, a copy of their articles of incorporation, their CRA business number and the number of visitors for the 2018 and 2019 fiscal years.
The funding will be distributed competitively so meeting the eligibility criteria will not guarantee funding.
Full program details will be available October 13th at the link below.