BC Manufacturing Jobs Fund (BCMJF) — Capital Investment
BC, Canada
Funding for manufacturing modernization and job creation in B.C
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|minCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateAugust 16, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
grant_single|grantors
- Government of British Columbia
grant_single|status
grant_card_status|open
grant_single_labels|preview
The BC Manufacturing Jobs Fund provides non-repayable funding contributions of up to $10 million to manufacturing companies in British Columbia to modernize and expand their operations, with a focus on economic resilience, job creation, and innovative projects, particularly in communities affected by economic downturns. Eligible activities include capital investments such as new infrastructure, technology, equipment, and the development of value-added manufacturing processes.
grant_single_labels|terms_and_conditions
The BC Manufacturing Jobs Fund offers a variety of financing modalities to support the modernization and growth of manufacturing companies in British Columbia. These modalities are designed to ensure that projects are financially viable and contribute to sustainable economic growth in the province.
- Non-repayable funding contributions with defined maximum amounts: up to $50,000 for project readiness and from $100,000 to $10 million for capital investments.
- Funding is offered through two streams: Project Readiness, which covers up to 50% of eligible project costs, and Capital Investment, which covers up to 20% of eligible project costs.
- Projects must secure at least 25% of their funding from the applicant organization or partners, including potential sources like bank loans and private investments.
- Stacking with other provincial or federal funding programs is permitted, encouraging applicants to leverage multiple funding sources.
- Funding agreements are structured with payments made in stages, typically tied to project milestones.
- Recipients are responsible for covering costs exceeding the agreed funding, including any cost overruns and ongoing maintenance costs beyond the project scope.
grant_single_labels|projects
This grant supports projects that enhance manufacturing capabilities, promote innovation, and contribute to regional economic growth in British Columbia. Eligible activities focus on infrastructure development, technological upgrades, and strategic business planning.
- Development of business cases to expand operations or diversify product lines.
- Operational or technical assessments to improve productivity or introduce new technology.
- Refitting idle community assets such as an unused mill site for manufacturing use.
- Building or expanding manufacturing facilities to increase production capabilities.
- Upgrading equipment or machinery to support the introduction of new product lines.
- Adopting innovative processes to manufacture value-added forestry products from biomass or other alternatives.
- Retrofitting processing facilities to expand or adopt new technologies or processes.
grant_single|admissibleProjectsExample
$ 15,000
Organizing a community winter festival with local artisans
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's business profile, operations, and financial status.
- The applicant must be a business or for-profit organization.
- The applicant must have manufacturing operations, which include Indigenous and First Nation-owned enterprises.
- The applicant must be registered to do business in British Columbia (B.C.).
- The applicant must operate within the manufacturing sector.
- The applicant must have established operations with an existing or intended physical location employing workers.
- The applicant must be in a demonstrated viable financial position, evidenced by business plans and financial records showing current or projected growth and the ability to pay off short-term debts.
- The applicant must have the financial capacity to undertake the proposed project.
- Partnerships are encouraged, especially with local municipalities or non-profit organizations, but the primary applicant must be an eligible entity.
grant_eligibility_criteria|who_can_apply
This fund is open to various types of organizations primarily in the manufacturing sector, including some specific eligibility criteria for businesses seeking to modernize their operations in British Columbia.
- Businesses and for-profit organizations registered to operate in B.C.
- Entities with for-profit manufacturing operations, including Indigenous and First Nation-owned enterprises.
- Organizations with established operations in the manufacturing sector or plans to establish a new operating site with a commercial-ready product and defined operating plan, demonstrating a viable financial position.
- Partnerships with local municipalities or non-profits are encouraged as long as the primary applicant is an eligible entity.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the BC Manufacturing Jobs Fund include costs related to final-stage business and project planning, as well as essential project delivery expenditures.
- Direct or contractual costs for producing business and/or operational plans.
- Market assessments and financial plans.
- Risk analyses, operational, and technical assessments.
- Construction drawings, architectural plans, and/or engineering reports.
- Capital expenditures such as equipment, machinery, technology, and construction materials.
- Wage or contract costs for net new project-specific labour.
- Professional, contractor, and subcontractor fees.
- Freight or material transportation costs.
- Installation and implementation costs.
- Other time-limited costs directly related to project implementation.
grant_eligibility_criteria|zone
This grant is available for projects that are located in British Columbia (B.C.). The initiative aims to bolster economic growth in various communities within the region.
- Projects located anywhere in British Columbia (B.C.).
- Particularly in rural, remote, or forestry-dependent communities in B.C.
grant_single_labels|criteria
The evaluation and selection of projects for the BC Manufacturing Jobs Fund focus on aligning with program objectives and maximizing impact in key areas identified by the grant.
- Projects within the forestry sector.
- Projects located in rural, remote, or forestry-dependent communities.
- Projects that have a high degree of readiness in terms of secured funding and ability to commence.
- Projects that are Indigenous-led or benefit Indigenous Peoples.
grant_single_labels|register
- Step One: Project Proposal
- Access the proposal form using a Business BCeID.
- Complete the online form with information about your business and the planned project.
- Include business/organization name, registration number, contact information, and high-level details about operations and financial viability.
- Provide a description of the project, including location, objectives, planning undertaken, and market demand.
- Submit the proposal by August 15, 2024, at 4:00 pm PST.
- Optional: Attach supporting documents like financial statements, business plans, and letters of support.
- Step Two: Detailed Application
- If invited, prepare a detailed document providing in-depth information about your business and project.
- Include details about how the project aligns with clean growth and economic impact goals.
- Submit supplementary materials such as financial statements, detailed project budget, business plans, and design plans.
- Ensure application submission by November 15, 2024, at 4:00 pm PST.
- Step Three: Funding Decision
- Applications are reviewed in batches by an internal review panel.
- Projects are assessed for viability, readiness, and alignment with program priorities like forestry and regional impact.
- Step Four: Funding Agreement and Project Implementation
- Upon selection, enter into a Contribution Agreement with the Province.
- Agree on terms including funding release stages and reporting requirements.
- Ensure project progresses and reports are submitted as stipulated in the agreement.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Grants are non-repayable and can be combined with other provincial or federal funding programs.
- Applicant contribution should include at least 25% from their own sources or partners, including bank loans and private investment.
- Projects are prioritized if they are within the forestry sector, located in rural or remote areas, or Indigenous-led.
- Funding decisions involve an internal review panel with cross-government representatives, considering project readiness and impact.
- Funding agreements will be detailed with terms for payment stages and reporting requirements, including progress reports and a final report.
- Applicants will have a dedicated program contact assigned to their file for guidance throughout the process.
- The program aims to contribute to sustainable growth, leveraging other funding sources, and supporting manufacturing sectors both regionally and inclusively.
grant_single_labels|contact
ManufacturingJobsFund@gov.bc.ca
Apply to this program
Unlock Funding with the BC Manufacturing Jobs Fund
The BC Manufacturing Jobs Fund is a financial initiative aimed at empowering manufacturers across British Columbia by providing significant capital support to modernize and expand their operations. With a strategic focus on fostering economic resilience, job creation, and industrial diversification, this fund makes a substantial impact on community development throughout the region.
Detailed Insights into the BC Manufacturing Jobs Fund and Its Benefits
The BC Manufacturing Jobs Fund is a robust initiative strategically designed to support the manufacturing sector across British Columbia. With a staggering investment pool of up to $180 million, the fund is committed to bolstering economic resilience, encouraging diversification, and securing well-paying jobs for the local workforce. Notably, the fund aims to assist communities grappling with economic downturns by prioritizing projects that introduce innovative, sustainable practices, particularly within the forestry sector that seeks alternatives to traditional logging methods.
The fund welcomes applicants from diverse manufacturing sectors, encompassing forestry, aerospace, food and beverage processing, metals, machinery, biomanufacturing, and industrial marine fields. It facilitates a two-tiered funding structure through which it aids eligible businesses. Stream 1 allocates up to $50,000 to assist businesses with final-stage project planning, effectively preparing them for capital investment. Stream 2, on the other hand, provides capital investments ranging between $100,000 to $10 million to support infrastructure developments, technological upgrades, and process optimizations. Importantly, the fund maintains flexibility, allowing businesses to apply directly to Stream 2 without requiring prior support from Stream 1.
Eligible participants include businesses and for-profit entities operating in the manufacturing sector and registered in British Columbia, with a distinct emphasis on Indigenous and First Nation-owned enterprises. Successful applicants must validate their project’s financial viability and readiness, demonstrating tangible benefits such as job creation and alignment with program goals within specific timelines. Projects should begin within three to six months of approval and be significantly progressed by March 2026.
Applicants are encouraged to leverage other funding avenues, showcasing their commitment by securing finance from private, provincial, or federal sources. This strategic approach not only enhances the credibility of the applications but also aids in prioritizing them. Moreover, the program promotes partnerships, thereby facilitating a collaborative ecosystem that propels communal and economic growth.
The funding process follows a two-step application system, which ensures only fitting and potentially impactful projects advance. Upon approval, a detailed funding agreement outlining the terms and responsibilities is formed, guaranteeing transparency and accountability in fund utilization. Recipients are required to furnish periodic progress reports, affirming their adherence to agreed timelines and budgetary allocations.
In conclusion, the BC Manufacturing Jobs Fund exemplifies a comprehensive approach to revitalizing British Columbia’s manufacturing sector. Through substantial financial support, strategic prioritization of innovative and sustainable projects, and an inclusive application process, the fund plays a pivotal role in advancing economic stability and diversification across the province.
