CanNor Jobs and Growth Fund — For-profit

The Jobs and Growth Fund aims to create jobs and promote long-term economic growth across Canada, allocating $700 million over three years through regional development agencies. It supports businesses and organizations in transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and building resiliency.

The Jobs and Growth Fund (JGF) is an initiative launched to stimulate job creation and foster sustainable economic growth across Canada. With an allocation of $700 million over three years, this fund is managed by Canada's regional development agencies (RDAs) and tailored to meet the unique needs of different regions. One of its notable aspects is the $70 million specifically earmarked for businesses established after January 2020, making it particularly relevant for newer enterprises navigating the post-pandemic landscape.

The JGF is a comprehensive funding program designed to address various economic challenges and opportunities. It focuses on supporting businesses and organizations that contribute to job creation, economic resilience, and long-term growth. The fund is part of a broader effort to ensure that local economies are well-positioned to thrive in the evolving economic environment.

The fund is open to a wide range of applicants, including: - Businesses, including co-operatives - Not-for-profit organizations and community economic development partners Additionally, Indigenous-led organizations and businesses are strongly encouraged to apply. For projects with Indigenous clients, RDAs may contribute up to 100 percent of eligible project costs, highlighting a commitment to inclusive economic development.

The Jobs and Growth Fund supports a variety of activities that align with its core objectives. These activities fall under four primary categories: 1. **Transition to a Green Economy** - Supporting the development and adoption of clean technology - Helping communities and businesses plan and drive clean, sustainable economic growth - Partnering with organizations to catalyze the development of green regional clusters - Working with organizations supporting businesses to transition to a green economy 2. **Fostering an Inclusive Recovery** - Supporting businesses owned or majority-led by underrepresented groups, such as Indigenous peoples, members of racialized communities, women, youth, LGBTQ2 individuals, persons with disabilities, newcomers to Canada, and members of official language minority communities - Increasing the participation of underrepresented groups in the economy by supporting not-for-profit organizations that provide funding, business services, training, and access to resources, thereby building a more inclusive and equitable workforce 3. **Preserving Competitiveness and Future-proofing SMEs through Digital Adoption** - Supporting the development or adoption of digital and technological solutions (i.e., Industry 4.0 solutions) to increase and promote business productivity - Investing in technologies that help scale businesses, enhance their capabilities, and increase resilience 4. **Strengthening Capacity in Critical Sectors** - Supporting scale-up and market expansion activities that bolster traditional areas of strength - Developing emerging areas of global competitive advantage - Supporting supply chain adaptation and diversification opportunities to build Canadian capacity in critical sectors such as food production, medical supplies, and biomanufacturing

The Jobs and Growth Fund offers different forms of financial assistance depending on the type of applicant: - Eligible businesses can receive interest-free repayable contributions for up to 50 percent of eligible costs. - Eligible not-for-profit organizations can receive non-repayable contributions for up to 90 percent of eligible costs. Applications are accepted on a continuous intake basis until the funding is fully allocated, providing an ongoing opportunity for eligible parties to access financial support.

The JGF places a strong emphasis on supporting Indigenous-led organizations and businesses. By offering up to 100 percent funding for eligible project costs, the fund aims to empower Indigenous communities and entrepreneurs, fostering economic development that is both inclusive and sustainable. This approach recognizes the vital role that Indigenous peoples play in Canada's economic landscape and seeks to address historical inequities by providing targeted support.

Transitioning to a green economy is a central pillar of the JGF. The fund supports various activities aimed at reducing environmental impact and promoting sustainable practices. This includes investments in clean technology, which can drive innovation and economic growth while addressing pressing environmental challenges. By helping businesses adopt green solutions, the fund not only contributes to environmental sustainability but also enhances the competitiveness of Canadian enterprises in the global marketplace.

In today's increasingly digital world, businesses must adapt to new technologies to remain competitive. The JGF recognizes this necessity and provides support for digital adoption. From Industry 4.0 solutions that streamline manufacturing processes to digital tools that enhance customer engagement, the fund helps businesses leverage technology to improve productivity and resilience. This support is crucial for small and medium-sized enterprises (SMEs), which may lack the resources to invest in digital transformation independently.

The COVID-19 pandemic underscored the importance of resilient supply chains. The JGF addresses this by supporting activities that strengthen supply chain capacity in critical sectors, such as food production and medical supplies. By diversifying and adapting supply chains, Canadian businesses can better withstand future disruptions, ensuring the continued availability of essential goods and services. This support not only safeguards public health and food security but also enhances economic stability.

Applying for the Jobs and Growth Fund involves several key steps: 1. **Identify Eligibility**: Ensure that your business or organization meets the eligibility criteria outlined above. 2. **Prepare a Proposal**: Develop a comprehensive proposal that details the project, its objectives, and how it aligns with the fund's priorities. 3. **Submit an Application**: Applications can be submitted on a continuous intake basis until the funding is fully allocated. This allows for flexibility in timing and encourages proactive planning. 4. **Engage with Regional Offices**: For personalized assistance and further information, applicants are encouraged to reach out to regional offices or contact the fund via email.

Canada's RDAs play a crucial role in delivering the Jobs and Growth Fund. Each RDA tailors its approach to the unique economic conditions and opportunities in its region, ensuring that the fund has a broad and meaningful impact. By leveraging local knowledge and expertise, RDAs can effectively support businesses and organizations in their efforts to create jobs and stimulate economic growth.

The Jobs and Growth Fund represents a significant investment in Canada's economic future. By supporting a wide range of activities—from green technology adoption to digital transformation—the fund addresses both immediate and long-term needs. Its inclusive approach ensures that all communities, including underrepresented groups and Indigenous peoples, have the opportunity to participate in and benefit from this economic growth. As the fund continues to be implemented, it will play a pivotal role in building a resilient, competitive, and sustainable Canadian economy. For more detailed information about the Jobs and Growth Fund, applicants are encouraged to reach out to the Canadian Northern Economic Development Agency (CanNor) or one of the regional offices. This engagement can provide valuable insights and guidance, helping applicants navigate the process and maximize their chances of receiving funding.