Does your business or organization contribute to the creation of jobs and long-term growth of local economies?
Or perhaps you foster inclusive recoveries for groups such as Indigenous peoples, women, youth, LGBTQ2, persons with disabilities, or newcomers to Canada…
If you answered yes to one of these, you might want to read on.
Also Read: Information About Greener Homes Incentive
Does This Article Pertain To Me?
Before you continue reading on, do you fall under one of these groups?
- Businesses, including co-operatives
- Not-for-profit organizations and community economic development partners
- Incorporated businesses, primarily small-and-medium-sized enterprises (SMEs)
- Not-for-profit incorporated organizations (including tourism associations and destination marketing organizations)
- A municipality, municipal organizations, Crown corporations, and related parties
- Indigenous/First Nation/Métis Settlement owned business
- Indigenous organization
If so, then yes. This article is for you.
What Is The Jobs And Growth Fund In Western Canada?
Through this fund, a total of $700 million will be invested in Canadian projects that will facilitate job creation over the next three years and beyond to stimulate economic recovery following the COVID-19 crisis.
That $700 million is for all of Canada; however, in the West, Western Economic Diversification Canada (WD) is specifically investing $217 million.
Who Is Eligible?
For the Jobs and Growth Fund:
You must be one of the two:
1. A business, including co-operatives
2. A not-for-profit organization and community economic development partner
Have activities that support the transition to a greener economy, like adopting green technology into your own business and supporting other organizations and businesses into transitioning to green energy
Have activities that foster an inclusive recovery, like supporting other businesses owned by underrepresented groups and actively working to make your business more inclusive
Have activities that preserve Canada’s competitiveness and future-proof SMEs through digital adoption, like investing in technologies to create more efficient business solutions, while also increasing resilience in your own business
Have activities that strengthen capacity in sectors critical to Canada’s recovery and growth, like helping develop Canada’s competitive edge in emerging markets and leverage traditional areas of strength in the Canadian market
What Would Make Me Ineligible?
Businesses that are not incorporated and for-profit organizations that do not align with the outlined activities are not eligible for the Jobs and Growth Fund.
How Much Can I Receive?
How much you receive from the Jobs and Growth Fund depends on whether you are a business (including co-operatives) or a not-for-profit organization/community economic development partner.
According to the government of Canada website:
Eligible businesses could receive interest-free repayable contributions for up to 50% of eligible costs.
Eligible not-for-profit organizations could receive non-repayable contributions for up to 90%of eligible costs.
It’s essential to note… eligible costs are deemed on a case-by-case basis.
What’s The Application Process Like?
Both will ask for details on:
- Organization information such as an incorporation number
- Project information and why this project falls under the particular fund
- Project timelines for the proposed project specifically
- Cash flows such as total fiscal expenditures
- Current WD funding and non-WD funding
- Total expenditures, total WD funding requested, and total non-WD funding
- Funding partners, aka all potential project contributors that will provide funding as a monetary contribution or in-kind contribution
- Benefits such as jobs created and other entities supported
- Timelines such as milestones and completion dates
It’s crucial to have all this information ready and confirmed before applying.
If you have any questions, don’t hesitate to shoot us a message.
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