What You Need to Know About The Tourism Relief Fund

Quick Case Study Of Our Client – Fernie Fox Hotel

Just recently we began working on a project for one of our clients who owns a Fernie Fox Hotel. Our main goal was to make the hotel self sustainable by installing solar panels which will allow the hotel to produce more renewable energy than it was consuming. The solar modules supply power to grid-tie inverters, which allow energy to be fed directly back to the power grid. When consumption on site is low, this will provide the customer with a credit on their utility bill. After learning about the Tourism Relief Fund, we started working with our client from Fernie Fox Hotel to see if he would like to make his hotel even more energy efficient as there is a new capital investment the government is offering which he would most likely be approved for. The owner of the hotel applied and successfully was able to receive the funding for his hotel, which allowed us to go ahead and create a Net Zero hotel, reducing their electrical bill and reducing the environmental footprint of every individual who is planning on staying there! Do you reside in a community or region that relies on tourism as an economic engine or one that is transitioning to being more tourism-oriented? Maybe your business activities support the transition to a greener economy… If you answered yes to one of these, you might want to read on. The reality is Canada’s economic recovery depends on the health of its businesses and communities as it recovers from the COVID-19 pandemic. Moreover, as we begin to see the travel industry rebound, it’s essential to strengthen and develop our tourism sector. To help advance these sectors in the wake of the COVID-19 pandemic, the Federal government has created : The Tourism Relief Fund and the Jobs & Growth Fund in Western Canada. 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 Tourism Relief Fund?

Within a two-year period, $500 million will be invested into the tourism sector by the TRF. Although it won’t solve all problems, the funding could be vital in allowing a business to remain in operation and employ staff during the long road to recovery. Its mission is to position Canada to be a destination of choice for domestic and international travel once again through:

Product Development

Providing tourism businesses with the resources and tools necessary to create and improve products and services to attract more local and domestic tourists.

Destination Development

Offering the best Canadian tourism experiences to the world by helping the sector reposition itself to welcome international visitors.

Who Is Eligible?

For the Tourism Relief Fund, you must be one or more of the three: 1. A key supplier/operator in the visitor experience: You must aid the tourism economy by supplying critical infrastructure and services, connecting tourism products to potential markets, taking the initiative to build sustainable tourism projects, and supporting skill development in the tourism sector. 2. Part of a defined tourism cluster: You are part of a concentration of businesses that have complementary products and services and aim to support the main drivers of tourism in that area. You would have to reside in a local economy that is dependent on tourism or is transitioning to one that is more tourism-centric. 3. An anchor product in a destination: You are a motivator of travel to this region, and your business is a catalyst for tourists to choose your specific region of travel.

How Good Is My Eligibility?

For the Tourism Relief Fund, your project will be given priority consideration if it contributes to any of the following:
  • supports the Indigenous tourism sector
  • the business/organization is of strategic importance to the tourism sector in the region
  • contributes to the economic development of a region
  • contributes to job creation in the region
  • takes place in a tourism-dependent community/region, including projects supporting downtown cores
If your project falls under one of these, it’s highly suggested that you apply.

What Would Make Me Ineligible?

Businesses such as restaurants, those in the retail sector and hotel chains are not eligible for the Tourism Relief Fund.

How Much Can I Receive?

For the Tourism Relief Fund, for-profit organizations must specify whether they request a non-repayable contribution or a fully repayable contribution. Assistance is provided at the following rates and maximum amounts:
  • non-repayable contributions up to 50% of eligible costs to a maximum of $100,000
  • repayable contributions up to 75% of eligible costs to a maximum of $500,000
It’s essential to note… contributions to a non-profit organization/Indigenous entity (not generating profits) will typically be non-repayable. In addition, contributions to projects usually do not exceed $500k, so don’t budget for more than that. And if you want to apply for a combination of non-repayable and repayable contributions? Just know it’s not going to be accepted. Please also checkout the range ofsolar system installation services that we offer to all of Alberta, British Columbia, and Saskatchewan.