Investment Attraction Fund
NL, Canada
Newfoundland and Labrador investment attraction fund
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Newfoundland and Labrador
- Department of Industry, Energy and Technology (NL)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a loan to cover infrastructure, human resources and other costs to support economic growth in the province.
grant_single_labels|projects
This grant is intended for companies with operations situated in Newfoundland and Labrador or those committed to establishing operations in the province. Companies must ensure alignment with the province's economic rules and regulations.
- Companies with operations in Newfoundland and Labrador.
- Businesses willing to establish operations within Newfoundland and Labrador.
grant_single|admissibleProjectsExample
$150,000
Expanding a renewable energy company
$100,000
Expanding a digital marketing agency
$75,000
Establishing a new eco-friendly bakery in St John's
$120,000
Establishing a craft brewery
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the business's registration status, operational presence, and financial compliance within the Province of Newfoundland and Labrador.
- The business must be a duly registered company or commit to becoming a registered company under the Newfoundland and Labrador Corporations Act and/or the Canada Business Corporations Act.
- The business must be legally entitled to conduct business in the Province of Newfoundland and Labrador.
- The business must have or commit to having operations situated in the Province of Newfoundland and Labrador.
- The business must be in good standing with the Province of Newfoundland and Labrador.
grant_eligibility_criteria|who_can_apply
The Investment Attraction Fund is aimed at attracting large-scale businesses and foreign direct investment to Newfoundland and Labrador. Eligibility is determined based on the status of being a duly registered company or having the intent to register, having operations in the province, and maintaining good standing with the province. The criteria do not specify different evaluation and selection criteria beyond the detailed business plan requirements and eligibility conditions provided in the context.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for the Investment Attraction Fund. The fund does not support companies that do not have operations situated in the Province of Newfoundland and Labrador.
- Companies without operations in Newfoundland and Labrador
grant_eligibility_criteria|eligible_expenses
This grant focuses on projects that aim to attract foreign direct investment and support the establishment or expansion of businesses in Newfoundland and Labrador. The eligible activities emphasize strategic investments, employment creation, and economic benefits for the province.
- Establishment of new businesses in Newfoundland and Labrador stemming from foreign direct investment.
- Expansion of existing businesses in the province due to external investment from foreign entities.
- Infrastructure support projects facilitating business operations initiated by inward investors.
- Human resource development initiatives associated with foreign direct investment in the province.
grant_eligibility_criteria|zone
The grant covers specific costs associated with strategic investments required for establishing or expanding a business in Newfoundland and Labrador.
- Infrastructure support costs.
- Human resource costs.
- Other costs as determined by the Department of Industry, Energy and Technology.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on specific criteria with allocated point scores to ensure alignment with the grant’s objectives.
- Demonstration that the project would not proceed without the requested funding support.
- The project being a result of inward investment.
- Potential for long-term sustainability of the project.
- Opportunity for job creation within the province.
- Ability to bring economic benefit to Newfoundland and Labrador with consideration of funding from all provincial government sources.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Confirm Eligibility
- Verify that your business satisfies the eligibility criteria outlined by the Fund.
- Ensure your business is registered or in the process of registering under the Newfoundland and Labrador Corporations Act or the Canada Business Corporations Act.
- Step 2: Develop a Business Plan
- Prepare a comprehensive business overview documenting your company’s mission and vision.
- Craft an ownership and management structure plan detailing key personnel and their roles.
- Formulate a human resources plan illustrating staffing requirements and planned hires.
- Draft a manufacturing and/or operations plan if applicable, describing your processes and operation strategies.
- Create a marketing and promotional strategy to outline how you will promote your business in the province.
- Prepare a capital plan outlining your funding sources and expenditure plans.
- Include a financial plan with projections and forecasts, showing anticipated financial outcomes and sustainability.
- Step 3: Prepare Additional Documentation
- Gather any additional documents requested by the Department of Industry, Energy and Technology during your planning phase.
- Step 4: Contact the Grant Administrator
- Reach out to Bob Norman, Manager, Investment Attraction, via email at bnorman@gov.nl.ca or call 709.729.0598.
- Discuss your intentions and clarify any questions regarding the application process.
- Step 5: Submit Application
- Prepare your application, ensuring it includes all required elements such as the business plan and any additional requested information.
- Email your completed application to the contact provided or use any specified submission portal or method discussed with Bob Norman.
- Step 6: Acknowledge Receipt
- Keep a record of the submission confirmation for your records and future reference.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Fund provides customized financial assistance, implying that the support is tailored to the specific needs of the investor.
- The Department of Industry, Energy and Technology may determine eligible costs beyond infrastructure support and human resource costs.
- Inward investors must make a direct contribution of funds, indicating a commitment beyond seeking provincial support.
- The funding is aimed at fostering foreign direct investment, suggesting a focus on attracting external capital to the province.
grant_single_labels|contact
bnorman@gov.nl.ca
709-729-0598
Apply to this program
Attracting Investment to Newfoundland and Labrador
The Investment Attraction Fund is tailored to draw large-scale businesses and foreign direct investment to Newfoundland and Labrador. It offers strategic financial assistance for businesses looking to establish or expand operations, thereby stimulating economic growth and creating employment opportunities in the province.
Detailed Insights into the Investment Attraction Fund
The Investment Attraction Fund serves as a strategic tool aimed at enhancing the economic landscape of Newfoundland and Labrador by attracting significant business interests and foreign direct investment (FDI). This fund stands out as it not only encourages external investments but also aligns them with the province's developmental goals. A major objective of the fund is to nurture a business environment that is conducive to sustainable economic activities and the creation of valuable employment opportunities.
The Fund is designed to offer customized financial assistance, which could come in the form of loans or advances. These are strategically allocated to cover essential costs such as infrastructure support, human resources, and other specifically determined expenses that may arise during the process of establishing or expanding business operations. The provision for these financial supports ensures that incoming businesses can offset significant initial costs, thereby enhancing their potential for long-term success and sustainability in the region.
Eligible investments under the fund include startups or expansions initiated by investors external to the province, allowing for a dynamic influx of capital and entrepreneurial spirit into the region. This element of outward engagement is crucial as it enhances the province’s ability to connect with broader global economic networks and leverage those connections for local benefit.
The businesses applying to this fund must present a compelling business plan that aligns with provincial priorities, demonstrating the project's potential impact and necessity for the requested funding. This ensures that the funds are allocated efficiently towards projects that are likely to bring substantial economic benefits to the local economy. Moreover, proposals must demonstrate the absence of alternative funding sources, establishing the critical role that this fund plays in facilitating the investment.
Another fundamental aspect is the requirement for initiatives to align with long-term sustainability principles. This ensures that investments are not just beneficial from an economic standpoint but are also viable in the long run, promoting a stable and prosperous economic future for Newfoundland and Labrador. The investment fund thus acts as a catalyst for projects that have the potential to generate lasting economic impact and employment within the province.
Furthermore, the emphasis on creating employment through inward investments underlines the fund’s role in stimulating local job creation. By supporting businesses that commit to operations within the province, the fund ensures that local communities benefit directly through new job opportunities, which is a critical consideration in any inward investment strategy.
In summary, the Investment Attraction Fund represents a significant commitment by Newfoundland and Labrador to enhance its competitiveness on a global scale. By strategically supporting businesses that promise to bring substantial economic and employment benefits to the region, the fund plays an essential role in ensuring that the province remains an attractive and viable location for both domestic and international investments.
