Investment Attraction Fund
grant_single|update January 24, 2025
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|terms_and_conditions
This grant provides financial assistance tailored to attract and establish significant business operations in Newfoundland and Labrador, by facilitating inward investment. Specific modalities for this funding include customized loans and strategic advances.
- Customized financial assistance in the form of loans.
- Advances allocated towards strategic investment costs, including infrastructure and human resources.
grant_single_labels|projects
The Investment Attraction Fund aims to enhance economic development in Newfoundland and Labrador by attracting businesses and foreign direct investments. Eligible projects focus on establishment or expansion activities that generate employment and long-term sustainability within the province.
- Establishment of new business operations in Newfoundland and Labrador by external investors.
- Expansion of existing business operations due to foreign direct investments.
- Strategic infrastructure investments required for inward investments.
- Human resource development related to the operational needs of inward investment projects.
- Other strategic costs necessary for the setup or expansion of businesses through inward investment.
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
This grant is focused on attracting businesses to a specific region of Canada. The eligible geographical area is the Province of Newfoundland and Labrador.
- Companies with operations in Newfoundland and Labrador.
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|apply
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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
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