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
- Department of Industry, Energy and Technology (NL)
- Government of Newfoundland and Labrador
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
Eligible projects or activities for this grant include:
- Establishing a new business in Newfoundland and Labrador
- Expanding an existing business in the province
- Investments in infrastructure support costs
- Human resource costs
- Other costs as determined by the Department of Industry, Energy and Technology
grant_single|admissibleProjectsExample
$150,000
Grand Falls-Windsor
Expanding a renewable energy company in Grand Falls-Windsor.
$75,000
St. John's
Establishing a new eco-friendly bakery in St. John's.
$100,000
Mount Pearl
Expanding a digital marketing agency in Mount Pearl.
$120,000
Corner Brook
Establishing a craft brewery in Corner Brook.
grant_single_labels|admissibility
The eligibility criteria for this grant include:
- Be a duly registered company or commit to taking the necessary steps to become a registered company
- Have or commit to have operations situated in the Province
- Be in good standing with the Province
- The project must not proceed without the requested funding support
- Be a result of inward investment
- Have potential for long-term sustainability
- Create employment and bring economic benefit to the Province
grant_eligibility_criteria|who_can_apply
Companies eligible for the Investment Attraction Fund grant in Newfoundland and Labrador must be duly registered or commit to becoming registered companies under specific acts, have operations in the province, and be in good standing with the province.
- Duly registered companies or those committed to registration in NL
- Companies with operations situated in Newfoundland and Labrador
- Companies in good standing with the province
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
Eligible expenses for this grant may include infrastructure support costs, human resource costs, and other project-related expenses. These expenses must be directly tied to the establishment or expansion of a business in Newfoundland and Labrador through foreign direct investment.
- Infrastructure support costs
- Human resource costs
- Other project-related expenses
grant_single_labels|criteria
There are evaluation and selection criteria for the Investment Attraction Fund. The proposals for funding must demonstrate that the project would not proceed without the requested funding support and have the potential for long-term sustainability.
- Project would not proceed without the requested funding support
- Potential for long-term sustainability
- Creation of employment
- Economic benefit to the province
grant_single_labels|register
- Step 1: Ensure the business meets eligibility criteria - Being a duly registered company or committing to becoming one under relevant Acts - Having operations in the Province - Being in good standing with the Province
- Step 2: Prepare a detailed business plan - Business overview - Ownership and management plan - Human resources plan - Manufacturing and/or operations plan - Marketing and promotional plan - Capital plan - Financial plan
- Step 3: Submit the funding proposal with the business plan to the Department of Industry, Energy and Technology - Include all required information in the proposal - Be prepared to provide additional information during the assessment process
grant_single_labels|contact
bnorman@gov.nl.ca
709-729-0598
Apply to this program
Investment Attraction Fund Summary:
The Investment Attraction Fund is designed to attract large-scale businesses and foreign direct investment to the Province of Newfoundland and Labrador by providing customized financial assistance to inward investors.
Investment Attraction Fund Detailed Explanation:
Welcome to the Investment Attraction Fund, a strategic initiative by the Province of Newfoundland and Labrador to foster economic growth through attracting large-scale businesses and foreign direct investment. This fund aims to support inward investors by providing tailored financial assistance to facilitate the establishment or expansion of businesses within the province. The Fund offers a unique opportunity for businesses to access funding for infrastructure support costs, human resource expenses, and other essential components crucial for their growth and sustainability.
One of the key objectives of the Investment Attraction Fund is to encourage inward investment in Newfoundland and Labrador, enhancing the province's economic landscape and creating employment opportunities. Eligible businesses interested in accessing the fund must be duly registered entities with operations in the province or commit to establishing operations within the region. To qualify for funding, businesses must showcase a solid business plan that reflects the project's viability, long-term sustainability, job creation potential, and economic benefits to the province.
Businesses seeking financial support through the Investment Attraction Fund are required to submit a comprehensive business plan outlining crucial aspects such as business overview, ownership and management structure, human resources strategy, operational frameworks, marketing plans, capital allocation, and financial projections. The Department of Industry, Energy and Technology administers the Fund and evaluates proposals based on the outlined criteria, ensuring that supported projects align with the fund's objectives and contribute positively to the province's economic development.
For companies considering investment in Newfoundland and Labrador, the Investment Attraction Fund serves as a valuable resource to access financial assistance and propel their business endeavors. By fostering a conducive environment for inward investment, the fund aims to boost economic growth, enhance competitiveness, and create a favorable ecosystem for businesses looking to establish a presence in the province. For further information on how to apply for funding under the Investment Attraction Fund, interested parties can contact the Department of Industry, Energy and Technology and connect with dedicated personnel like Bob Norman, the Manager of Investment Attraction.
In conclusion, the Investment Attraction Fund stands as a catalyst for attracting significant investments, fostering business expansions, and stimulating economic prosperity in Newfoundland and Labrador. Through strategic financial support and a focus on sustainable growth, the fund plays a pivotal role in shaping the province's economic landscape and positioning it as an attractive destination for businesses seeking investment opportunities.