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Ontario Boosting Economic Growth in Elora

News Release

Ontario Boosting Economic Growth in Elora

Province Investing in Tourism Sector to Help Create Jobs

Small Business

Ontario is partnering with Pearle Hospitality to transform the Elora Mill into a year-round destination, creating 110 new jobs in Wellington County's tourism industry.

With support from the Southwestern Ontario Development Fund, Pearle Hospitality will restore the North Shore area of the Elora Mill and convert five historic buildings into a hotel and conference facility. This will help the company expand its operations and create both construction and hospitality jobs for the region.

Investing in regional economic development is part of our government's plan to create jobs, grow the economy and help people in their everyday lives.

Quick Facts

  • The Elora Mill was built in 1833 and operated as a gristmill until 1974.
  • Ontario is investing $1.5 million from the Southwestern Ontario Development Fund for this project, supporting an additional investment of more than $13 Million from Pearle Hospitality. Phase One of the project (North side) is expected to be completed next spring and the balance of the project is expected to be completed in four years.
  • Since 2013, the Southwestern Ontario Development Fund and Eastern Ontario Development Fund have helped to create and retain approximately 40,600 jobs and have attracted approximately $2 billion in investment. The funds cover up to 15 per cent of eligible project costs, with the recipient company funding the remainder from its own resources.
  • Ontario is accepting applications for the Southwestern Ontario Development Fund from qualified businesses that are growing and creating jobs. Sectors eligible for the fund include advanced manufacturing, food processing, life sciences, information and communications technology, tourism and cultural industries.
  • Ontario’s five-year, $650-million Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.

Additional Resources

Quotes

Jeff Leal

“Our government’s partnership with Pearle Hospitality is helping the company create good jobs and grow the tourism industry in Wellington County. This is just one of the ways we’re supporting local economies through the Southwestern Ontario Development Fund, working with these innovative businesses create good jobs in their local economies.”

Jeff Leal

Minister Responsible for Small Business

Liz Sandals

“Our government is always pleased to support companies like Pearle Hospitality, which are keen to grow and expand in Ontario. The company has built a strong presence in tourism for many generations, and this new development will do much to boost the economy and provide good jobs to the people in Elora and Wellington County.”

Liz Sandals

MPP for Guelph

“We are proud of our long history in the hospitality business in Ontario and excited to add to it with this exciting new development. We are committed to creating the best tourist destinations in the province and, at the same time, supporting the local community in Elora.”

Aaron Ciancone

President, Pearle Hospitality

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