Economic Development Capacity Building
BC, Canada
Leverage the Economic Development Capacity Building program to boost local economic growth and capacity
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateNovember 01, 2023
- grant_single|closingDateMarch 31, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Northern Development Initiative Trust
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The Economic Development Capacity Building program provides financial incentives to local governments for hiring and maintaining an Economic Development Officer or pursuing economic development activities. Eligible activities include economic development planning, developing plans and strategies, conducting applied research, marketing, business retention, and investor hosting, with funding up to $50,000 available.
grant_single_labels|projects
Eligible applicants for this grant must be local governments located within Northern Development's service region. This geographical eligibility ensures that the funds support regional economic development initiatives effectively.
- Local governments within Northern Development’s service region.
grant_single|admissibleProjectsExample
$50,000
Research project on economic diversification opportunities
$50,000
Business retention and expansion consultancy for local merchants
$50,000
Hiring an Economic Development Officer for downtown revitalization
$50,000
Developing a regional economic strategy for attracting tech startups
$50,000
Hosting an investor tour to showcase local agricultural opportunities
$50,000
Marketing campaign to boost local tourism industry
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and the economic development activities they plan to pursue.
- The applicant must be a local government.
- All applicants must be located within Northern Development’s service region.
grant_eligibility_criteria|who_can_apply
Local governments located within Northern Development's service region are eligible to apply for the Economic Development Capacity Building program.
grant_eligibility_criteria|who_cannot_apply
This grant is specifically designed to support local governments in their economic development efforts. As such, it naturally excludes various organizations and entities that do not fit this criterion.
- Individual businesses or private sector companies.
- Non-local government organizations or non-governmental organizations (NGOs).
- Entities located outside the Northern Development's service region.
- Organizations involved in sectors or activities that do not align with local government-led economic development plans.
grant_eligibility_criteria|eligible_expenses
This grant encourages local governments to undertake or support various economic development activities to bolster community growth and diversification. The eligible projects and activities are focused on strategic planning, sector development, marketing, and business collaboration.
- Staff or contract wages for an economic development position where at least 50% of the workload is focused on economic development.
- Developing economic development plans, strategies including community and downtown revitalization plans, business retention and expansion plans, marketing plans, and workforce attraction planning.
- Conducting applied research and analysis to support planning or priority setting, such as sector or economic analysis, collaborative research studies, feasibility studies, and market research.
- Activities aimed at sector development and economic diversification, including efforts to attract new businesses or sectors to a community.
- Marketing and promotional activities to highlight specific economic opportunities for investment, such as entrepreneurship attraction videos.
- Conducting business retention and expansion activities and implementing action items from a business retention and expansion plan.
- Hosting trade missions and investor tours focused on business and investment attraction, up to a maximum of $5,000.
grant_eligibility_criteria|zone
The grant covers expenses related to wages for economic development positions and activities aligned with a community's economic development plan.
- Staff or contract wages for economic development positions where economic development constitutes at least 50% of the workload.
- Producing economic development plans, including business retention and expansion plans, community and downtown revitalization plans, marketing plans, and workforce attraction planning.
- Conducting sector or economic analysis, collaborative research studies or evaluations, feasibility studies, and market research.
- Activities focused on sector development and economic diversification, expanding current sectors, and attracting new businesses or sectors.
- Marketing activities promoting economic opportunities for investment.
- Business retention and expansion activities and implementing action items from such plans.
- Business and investor hosting, including transportation, accommodation, and facility/venue rentals, with a maximum of $5,000.
grant_single_labels|criteria
The application for the Economic Development Capacity Building program is evaluated and selected based on specific criteria to ensure alignment with the program's goals. Here are the key evaluation and selection criteria:
- The applicant must be a local government located within Northern Development's service region.
- The economic development activities or wages must be at least 50% of the workload.
- The project should align with the community's economic development plan.
- Must submit a complete application form, including the local government's latest economic development strategic plan.
- For wage applications, the job description must specify the percentage of time allocated to economic development.
- For activity applications, copies of quotes or a detailed budget breakdown are required.
- Proposed activities must be completed within the approved calendar year.
- Prior year reporting must be received and processed by Northern Development.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Review Program Documents
- Download and save all necessary documents, including the Application Guide and Reporting Form, to your computer desktop.
- Thoroughly read the Application Guide to understand the eligibility and funding requirements.
- Step 2: Prepare Your Application
- Complete the Application Form with accurate and detailed information.
- Ensure the local government’s latest economic development strategic plan is up to date and included.
- For wage funding, prepare a copy of the job description with specified percentage of time allocated to economic development.
- For activity funding, obtain quotes or provide a detailed budget breakdown for proposed activities.
- Step 3: Submit the Application
- Log into the Online Application System provided by Northern Development.
- Upload the completed application form along with all required supplementary materials electronically.
- Ensure submission before the deadline of March 31 to be considered for the funding year.
- Step 4: Await Approval and Reporting
- Understand that the application will not be approved until the prior year’s reporting has been received and processed.
- Be prepared to submit a final report by February 28 of the following year to receive reimbursement.
grant_single_labels|otherInfo
The Economic Development Capacity Building program by Northern Development Initiative Trust provides financial support to local governments for hiring economic development officers or pursuing economic development activities.
- Application intake starts from November 1 to March 31 each year.
- The program funds up to $50,000 for eligible projects per calendar year.
- Applicants must submit a final report by February 28 of the following year for reimbursement.
- Combines administrative roles where economic development is less than 50% of the workload are ineligible.
- Costs for CPP, EI, WCB, other benefits, and recruiting expenses are not covered.
- Projects influencing or lobbying any level of government are ineligible.
- Online applications are mandatory for submission.
grant_single_labels|contact
info@northerndevelopment.bc.ca
250-561-2525
Apply to this program
Boost Local Economic Development with Key Funding Opportunities
The Economic Development Capacity Building program offers financial support to local governments in northern regions, aiding them in hiring Economic Development Officers or implementing strategic initiatives. By supporting such roles and initiatives, the program aims to enhance economic planning, business retention, and sector diversification.
Empowering Local Governments for Economic Growth
This initiative is strategically designed to bolster local economic capabilities by providing up to $50,000 annually to certain local governments within the Northern Development region in Canada. The core focus of this grant is to either subsidize the position of an Economic Development Officer or to facilitate various economic development activities. Local governments stand to benefit significantly by implementing these focused economic roles or projects that target local economic growth through strategic planning and development.
The Economic Development Capacity Building program enhances local economic infrastructure through distinctive financial support. Participating municipalities or local authorities can channel these resources to fortify strategic economic plans, aiming at sustained growth and development. When local economies are empowered with dedicated roles or projects, it sets the stage for meaningful transformations regarding local business environments, potentially attracting investments and stimulating community engagement.
Through the funded Economic Development Officer position or projects, communities can venture into diverse activities such as economic planning, or sector diversification, among other crucial development areas. This structured approach ensures that economic development initiatives are driven by rigorous, strategically aligned plans, or by dedicated personnel who focus at least 50% of their professional effort on these priorities.
Underpinning such efforts are specific categories like developing plans and strategies or conducting applied research essential for informed economic planning. Communities can further use these funds to execute marketing and promotional strategies that bring attention to local economic opportunities, boosting local investments and fostering an entrepreneurial spirit. Diversity in sector development alongside business retention and expansion activities significantly contributes to stabilizing local economies, making them resilient to fluctuations.
Furthermore, the allowable hosting of investors for trade missions and tours, capped at $5,000, serves as a tactical effort to bring potential investments into the community, catalyzing further economic activities. Local governments which leverage this program can expect dynamic economic environments that spur growth through enhanced strategic planning and innovative economic initiatives.
However, it's crucial for local governments to not just apply but comply with stringent reporting requirements to secure these funds. Such diligence ensures that funds are not only spent but are efficiently directed towards feasible economic outcomes supported by thorough documentation and evaluation, essential for maintaining accountability and transparency within community-driven economic developments.
The Economic Development Capacity Building grant stands as more than just a financial incentive—it is a cornerstone for enriching local economies through strategic employment and project initiatives designed to yield long-term socio-economic benefits within Canada's northern regions. Participating governments can rejuvenate their economic landscapes, fostering vibrant, thriving, and economically resilient communities.
