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Ontario Boosting Economic Growth in Elora

September 8, 2017
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In a press conference on Friday, September 8th, Ontario announced that it is partnering with Pearle Hospitality to transform the Elora Mill site 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 Elora Mill, converting five historic buildings into a hotel, spa and special events venue. This will help Pearle Hospitality to expand its operations and create both construction and hospitality jobs for the region.

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

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

The Elora Mill was built in 1833 and operated as a gristmill until 1974. The Ciancone family, owners of Pearle Hospitality, were drawn to the Elora Mill not only thanks to the sheer beauty of the heritage site, but also because of its proven historical significance within the community. In restoring the landmark site, the Elora Mill is redefined as the fascinating and breathtaking tourist destination it truly is.

Elora Mill Hotel & Spa is currently undergoing a large restoration/renovation process. Once re-open, the facility will host a fine dining restaurant, luxury hotel and spa and gastropub, and will reclaim its rightful place as a premier destination in the Elora area.

Learn more about the redesign plans for Elora Mill.

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

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 (the North side of the river) is expected to be completed in Spring 2018 and the balance of the project (on the South side of the river) 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.

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

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.

Find out more about the Southwestern Ontario Development Fund.