Economic Development Fund — Tier 2
YT, Canada
Funding for medium-sized 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 financial assistance between $30,001 and $100,000 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|projects
This grant is available to businesses and organizations with a physical presence in Yukon. The funding is focused on promoting economic development specifically within the Yukon territory.
- Yukon territory
grant_single|admissibleProjectsExample
$37,500
Organizing a professional development workshop series for local entrepreneurs
$41,250
Establishing a marketing plan to attract investment for a tech startup
$37,500
Creating promotional materials for expanding a local artist’s market
$56,250
Developing a comprehensive business plan for expanding market reach
$37,500
Conducting market research and analysis for a new sustainable product line
$37,500
Participating in an international trade event to boost local products
grant_single_labels|admissibility
The eligibility criteria for a company applying for this grant require the business to meet specific conditions related to its presence and registration within Yukon.
- 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.
- Has a valid municipal business license, where applicable.
grant_eligibility_criteria|who_can_apply
A Yukon business that meets at least three specific conditions related to their business establishment in Yukon is eligible to apply. These conditions include having a physical office in Yukon, being subject to the Yukon Income Tax Act, being registered under relevant business legislation, or holding a valid municipal business license, where applicable. Furthermore, Yukon First Nation governments, Yukon First Nation development entities such as corporations and partnerships, Yukon municipal governments, community societies or industry associations registered in Yukon and open to public membership with an interest in economic development, and not-for-profit organizations incorporated under national not-for-profit regulations are also eligible to apply for the Economic Development Fund.
grant_eligibility_criteria|who_cannot_apply
This grant does not specify particular companies or industries that are excluded based on the provided context or known restrictions. The eligibility focuses on ensuring applicants contribute to Yukon's economic development without detailing specific exclusions.
grant_eligibility_criteria|eligible_expenses
Eligible projects for this grant aim to enhance economic opportunities for Yukon communities through strategic planning, capacity building, and market expansion. These activities support business innovation and diversification, contributing to a more competitive economic landscape.
- Creation of business plans to outline strategic growth initiatives.
- Conducting market research to identify and tap into new opportunities.
- Development of marketing plans to improve market reach.
- Organization and promotion of marketing and investment events to attract investors.
- Organizational capacity development to strengthen business operations.
- Participation in trade and investment events to expand networks and opportunities.
- Post-project analysis and support to evaluate success and areas of improvement.
- Professional development workshops on crucial business topics to enhance skills.
- Production of promotional materials for exploring new markets and market expansion.
- Training plans to develop necessary workforce skills.
- Investment in capital assets to support business growth.
- Allocation for capital costs in project implementation.
- Providing implementation support for project initiatives.
- Leasehold improvements to enhance business premises.
- Funding for essential travel costs related to project activities.
grant_eligibility_criteria|zone
The grant covers specific expenses directly associated with business planning, market expansion, and capacity development.
- Business plans.
- Market research.
- Marketing plans.
- Organization and promotion of marketing and investment events.
- Organizational capacity development.
- Participation in trade and investment events.
- Post-project analysis and support.
- Professional development workshops on business topics.
- Promotional materials for new markets and market expansion.
- Training plans.
- Capital assets.
- Capital costs.
- Implementation support.
- Leasehold improvements.
- Travel costs including economy airfare, standard room accommodation, and per diems not exceeding posted government rates.
grant_single_labels|criteria
The Economic Development Fund has evaluation and selection criteria for project applications. These criteria focus on both immediate and long-term outcomes that contribute to economic development in Yukon.
- Enhancement of joint ventures and investment opportunities
- Increased investment in the sector
- Improved organizational and enterprise capacity
- Innovation in business methods and approaches
- Positive impacts on employment and wealth creation
- Development of skills in Yukon's workforce
- Contribution to economic activity in Yukon communities
- Alignment with the goals of Yukon's climate change mitigation strategy
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Assess Eligibility
- Contact an Economic Development Fund program advisor to verify project eligibility.
- Reach out via email at edf@yukon.ca or call 867-456-3803 for guidance.
- Step 2: Prepare Application
- Draft a comprehensive proposal detailing the project objectives, outcomes, and alignment with fund criteria.
- Gather required documents such as business plans, market research, and organizational details.
- Step 3: Submit Application
- Submit your completed application by the deadline specific to your funding tier:
- Tier 1 applications are accepted throughout the year.
- Tier 2 deadline: April 15 and September 15.
- Tier 3 deadline: January 15.
- File the application in person, via email at edf@yukon.ca, or by mail to Government of Yukon, Economic Development Fund, Box 2703, Whitehorse, Yukon, Y1A 2C6.
- Step 4: Confirmation and Follow-Up
- Await confirmation of receipt from the Economic Development Fund office.
- Ensure to follow up if no confirmation is received within a reasonable timeframe.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Economic Development Fund replaced three prior funds: Regional Economic Development Fund, Strategic Industries Development Fund, and Enterprise Trade Fund.
- The grant supports projects that align with Yukon's climate change mitigation strategy, "Our Clean Future".
- Funding is tiered, with tier 1 accepting applications throughout the year, while tiers 2 and 3 have specific deadlines.
- The grant application deadlines for tier 2 are April 15 and September 15, while tier 3 has a deadline on January 15.
grant_single_labels|contact
edf@yukon.ca
867-456-3803
Apply to this program
Empowering Economic Growth in Yukon Communities
The Economic Development Fund offers significant financial support for projects fostering sustainable economic advancement across Yukon. It encourages innovation, diversity, and competitiveness in local businesses and communities.
In-Depth Insight into the Economic Development Fund and Its Benefits
The Economic Development Fund is a robust initiative aimed at catalyzing sustainable economic development and innovation within the Yukon territory. By superseding former funding programs like the Regional Economic Development Fund, Strategic Industries Development Fund, and Enterprise Trade Fund, the new Economic Development Fund consolidates support to provide more streamlined and impactful funding solutions.
This fund is expressly designed to bolster projects that yield long-term economic benefits, ultimately benefiting Yukoners and their communities. Eligible undertakings include initiatives supporting business innovation, sustainable planning, economic diversification through market support, and enhanced business competitiveness through building capacity and developing capital infrastructure. Such endeavors are critical in cultivating a diverse and resilient economy within Yukon’s unique economic landscape. Through these aims, the fund seeks to foster a more varied economy, encourage new business enterprises, and support the community’s employment and wealth creation in the long run.
The fund is selectively accessible to various groups. Yukon businesses meeting specific operational criteria, Yukon First Nation governments and development entities, municipal governments, community societies, and not-for-profit corporations incorporated under relevant Canadian acts are all eligible. This inclusivity ensures a broad range of community and business-driven projects can seek financial assistance, reflecting Yukon’s diverse socio-economic fabric. By empowering these entities, the fund hopes to create a network of interconnected ventures driving economic progress across different levels and sectors in Yukon.
Funding is structured with tiers based on project costs, maximizing the financial support provided up to 75% of eligible costs and 50% of capital expenses, with tier limits ranging from $30,000 to $500,000. This tiered approach not only makes funding accessible to smaller projects but also supports larger, more capital-intensive initiatives that promise substantial community impacts. Immediate outcomes of such funded initiatives are expected to include improved joint venture opportunities, sector investments, organizational capacity, and adoption of innovative business models.
Moreover, the fund outlines clear project criteria and expects tangible outcomes from funded projects. These include increased private sector employment, economic diversification, elevated investment levels, enhanced business competitivity, and a rise in new business establishments and expansions. Long-term projected impacts are ambitious, aiming for increased business startups, workforce skill development, and overall improved health and wellbeing of Yukoners. Additionally, projects contributing towards Yukon’s climate change strategy, "Our Clean Future," underscore the fund’s commitment to environmentally responsible economic development.
The Economic Development Fund not only delivers financial aid but also provides beneficiary projects with credibility and access to a broader network of economic development resources and partners. This multiplies the potential impact by fostering environments conducive to joint ventures and innovative partnerships, generating multiplier effects in local, regional, and community scales.
To apply, interested parties must navigate an application process that ensures projects align with the fund’s goals and deliverables. With deadlines tailored to different funding tiers, the process is accessible yet rigorous, ensuring that only the most viable and impactful projects receive support. Ultimately, the fund is not merely a financial resource—it is an instrument for sustainable growth, facilitating systemic progress through strategic investments in Yukon’s socio-economic future.
