The federal government has pledged $4 million to support Toronto’s main street businesses impacted by major transit construction, as part of a broader $6.7 million investment aimed at strengthening the city’s local economy.
The funding was announced at Stackt Market by Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and MP for Toronto Centre, alongside Mayor Olivia Chow and MP Chi Nguyen.
The $4 million allocation to the City of Toronto will be delivered through the Toronto Economic Resiliency Initiative, helping Business Improvement Areas (BIAs) and non-profits support small businesses affected by infrastructure projects. The funding will also assist restaurants expanding outdoor dining spaces and back community development initiatives that reduce barriers for equity-deserving businesses.
Solomon said targeted investments in small and women-led businesses are key to creating jobs and strengthening local economies, while Mayor Chow emphasized the importance of main streets as neighbourhood hubs for commerce and community life.
The remaining $2.7 million will go to Coralus, a Toronto-based non-profit supporting women and non-binary entrepreneurs. The organization plans to expand its programming across southern Ontario to help businesses become more resilient. Coralus has supported more than 268 ventures and provided $21 million in zero-interest loans, according to founder Vicki Saunders.