Federal Investment Strengthens Support for BIAs
TABIA welcomes today’s federal announcement of new funding to support small businesses, main streets, and Business Improvement Areas (BIAs) across Toronto and southern Ontario.
The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced a combined $6.7 million investment to strengthen local economic development. This includes up to $4 million for the City of Toronto to deliver the Toronto Economic Resiliency Initiative (TERI), which provides direct support for BIAs and not-for-profit organizations, helps mitigate the impacts of major transit construction, supports outdoor dining expansion, and invests in community development projects that reduce barriers for equity-deserving businesses.
As the collective voice of Toronto’s BIAs, TABIA works directly with all levels of government to ensure BIAs are taken seriously as critical economic drivers. We are pleased to see this announcement recognize the essential role that small businesses and BIAs play in advancing Toronto’s and Ontario’s economic success, supporting vibrant main streets, and strengthening local communities.
This investment represents an important opportunity for BIAs to enhance services, strengthen business districts, and deliver greater impact for their members. TABIA will continue working closely with government officials and partners to help ensure BIAs can fully leverage this new funding to drive strong outcomes and long-term resilience for local businesses.
We will share additional information with our members as details on program delivery and access become available.
