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Economic Development Fund — Tier 1
YT, Canada
Funding for small business projects in Yukon
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Department of Economic Development (YK)
- Government of Yukon
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get up to $30,000 to cover up to 75% of eligible project costs and 50% of capital expenses for a development project that provides long-term, sustainable economic benefits to Yukoners and Yukon communities.
grant_single_labels|terms_and_conditions
This grant offers structured financing modalities designed to maximize the economic impact of projects in the Yukon while ensuring alignment with strategic development goals. The funding is calibrated to cover substantial portions of project costs and capital expenses.
- Funding covers up to 75% of eligible project costs, offering substantial support for project initiatives.
- Support for capital expenses is capped at 50%, providing specific assistance for tangible asset investments.
- Tier 1 funding is available up to a maximum of $30,000, allowing flexibility for smaller-scale projects.
- Three-tier financing structure ensures tailored funding appropriate to the scale and scope of the projects.
grant_single_labels|projects
The Economic Development Fund — Tier 1 supports projects that aim to deliver sustainable economic benefits to the Yukon community. These activities focus on enhancing business innovation, supporting economic diversification, and increasing competitiveness.
- Development of business plans to guide future growth and innovation.
- Conducting market research to explore new opportunities and strategies for diversification.
- Creating marketing plans to expand business reach and support market penetration.
- Organisation and promotion of events aimed at marketing and investment attraction.
- Capacity development for organizational improvement and competitiveness.
- Participation in trade and investment events to broaden business networks and opportunities.
- Performing post-project analysis to evaluate outcomes and areas for improvement.
- Facilitating professional development workshops on key business topics.
- Producing promotional materials for new and expanding markets.
- Development of training plans to enhance workforce skills.
- Investment in capital assets crucial for advancing business operations.
- Covering capital costs associated with project implementation.
- Providing implementation support to ensure successful project execution.
- Creating leasehold improvements to optimize business facilities.
grant_single|admissibleProjectsExample
$ 12,750
Create promotional materials for expanding market reach of a Yukoner artisan collective
$ 7,500
Organize an investment event for local startups
$ 15,000
Leasehold improvements for a new non-profit art gallery
$ 17,250
Develop a training plan for employees of a financial cooperative
$ 9,000
Participate in an international trade show to promote Yukon tourism
$ 18,750
Develop a comprehensive business plan for a new cooperative grocery store
grant_single_labels|admissibility
Yukon businesses must meet specific criteria to be eligible for the Economic Development Fund.
- Have an office with a physical address in Yukon.
- Be subject to the Yukon Income Tax Act.
- Be registered under the Business Corporations Act and the Partnership and Business Name Act, where applicable.
- Have a valid municipal business license, where applicable.
grant_eligibility_criteria|who_can_apply
This Economic Development Fund targets a range of applicants from Yukon businesses to governmental and non-profit organizations within the region, all aiming to achieve economic growth and diversification.
- A Yukon business that meets 3 of the following conditions:
- has an office with a physical address in Yukon;
- is subject to the Yukon Income Tax Act;
- is registered under the Business Corporations Act and the Partnership and Business Name Act, where applicable; or
- has a valid municipal business license, where applicable.
- Yukon First Nation governments;
- Yukon First Nation development entities, which include corporations, partnerships, joint ventures, or trusts;
- Yukon municipal governments;
- Community societies or industry associations that:
- are registered under the Yukon Societies Act and are in good standing;
- are based in one or more Yukon communities;
- are open to public membership;
- can demonstrate a clear interest in improving Yukon’s economic development;
- Not-for-profit corporations incorporated under the Canada Not-for-profit Corporations Act.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant, including:
- Companies that do not meet the specified eligibility criteria outlined in the Yukon Economic Development Fund guidelines.
- Businesses that do not have a physical presence, are not registered under relevant acts, or lack a valid municipal business license in Yukon.
grant_eligibility_criteria|eligible_expenses
The Economic Development Fund aims to bolster economic activities that provide lasting benefits to the Yukon community. Eligible projects encompass a wide range of business enhancements, market expansions, and capacity development endeavors.
- Creation of business plans to guide growth and innovation.
- Conducting market research to identify new opportunities and trends.
- Crafting and implementing marketing plans for expanded reach.
- Organization and promotion of events targeting marketing and investment.
- Building organizational capacity for improved business operations.
- Participating in trade and investment events to enhance market presence.
- Conducting post-project analysis and support for continued development.
- Facilitating professional development workshops on various business topics.
- Producing promotional materials for new and existing markets.
- Formulating and enacting training plans to upskill the workforce.
- Procurement of capital assets crucial for project implementation.
- Covering capital costs directly linked to project goals.
- Supporting project implementation to ensure successful outcomes.
- Improvements in leaseholds to enhance operational facilities.
- Travel expenses for project-related purposes, limited to economy fares and standard accommodation.
grant_eligibility_criteria|zone
This grant is available to businesses and organizations situated within Yukon, aiming to foster regional economic development and sustainability. The eligibility is specific to entities based in the communities across Yukon.
- Companies with a physical presence located in Yukon.
- Programs and initiatives within Yukon communities.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The project criteria serve as the evaluation and selection guidelines.
- An enhanced environment for joint ventures and other investment opportunities
- Sector attracting increased investment
- Improved organizational and enterprise capacity
- Use and creation of innovative business methods, tools, approaches, and opportunities
- Successful joint ventures with beneficial community economic impacts
- Increase in private sector employment
- Diversification of the economy between and within sectors
- Increase in the number of new or expanded business enterprises
- Coordinated regional economic development planning projects
grant_single_labels|register
- Step 1: Determine Eligibility
- Contact an Economic Development Fund program advisor to confirm project eligibility.
- Gather required documentation to demonstrate eligibility.
- Step 2: Prepare Application
- Complete the application form with detailed project description including objectives and expected outcomes.
- Include information on how the project aligns with the fund's goals and criteria.
- Prepare supplemental documents, like project plans, budgets, and any required letters of support.
- Step 3: Submit Application
- Submit the completed application form and all supporting documents before the deadline.
- Options for submission:
- In person at 303 Alexander Street, 2nd floor, Whitehorse; open Monday to Friday from 8:30 a.m. to 4:30 p.m.
- Send via email to edf@yukon.ca.
- Fax it to 867-393-7018.
- Mail to Government of Yukon, Economic Development Fund (F-1), Box 2703, Whitehorse, Yukon Y1A 2C6.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Economic Development Fund supports projects aimed at contributing positively to Yukon's climate change mitigation strategy, "Our Clean Future."
- Tier 1 applications are accepted on a rolling basis, allowing for flexibility in project initiation and planning.
- The grant provides a comprehensive list of both eligible and ineligible expenses to guide applicants in budget planning.
- The fund prioritizes long-term outcomes, such as improving the overall health and wellbeing of Yukoners and increasing skills in Yukon’s workforce.
grant_single_labels|contact
edf@yukon.ca
867-456-3803
