It's never been more affordable to hire a co-op student.
There are a number of grants, tax credits and funding programs that subsidize, and sometimes completely cover, the cost of your hire. Browse the funding opportunities below to learn more.
Funding during the COVID-19 pandemic:
• In an effort to support small businesses through these unprecedented times, the Government of Canada recently released the Emergency Wage Subsidy. This program offers up to 75% wage coverage for up to 12 weeks. Read more on the Government of Canada website.
• The Government of Canada's Student Work Placement Program has announced:
1) "net new" hire restrictions have been removed
2) temporary changes to some eligibility requirements to increase flexibility
If you didn't qualify in the past, you should consider applying for the May to August AND September to December work terms.
Learn more about how these changes can benefit you.
• Changes to the Canada Summer Jobs program will help small businesses hire and keep the workers they need so they can continue to deliver essential services. Read more about these changes.
Information last updated May 27, 2020
Did you know?
The Ontario Co-operative Education Tax Credit allows employers to claim 25% of eligible expenditures on salaries and wages (30% for small businesses). The maximum credit for each work placement is $3,000. Similar tax incentives are available in other provinces.
Consultation is completely free. We can help you by:
1) matching you up with the right funding options
2) providing you with up-to-date info
3) getting you ready to hire from Waterloo
4) answer any questions you have related to various funding opportunities
