How much funding can be received?

The Northern and Regional Economic Development (NRED) Program provides funding to Alberta municipalities, Indigenous communities, and non-profit organizations for initiatives that boost regional economic development and diversification. Eligible projects include feasibility studies, training events, marketing campaigns, business retention, and innovative approaches that support economic growth and investment readiness. Approved applicants can receive between $10,000 and $300,000 to cover eligible project costs.

grant_single_labels|terms_and_conditions

This grant provides financial support to approved projects based on specific co-financing requirements, advancing regional economic development objectives. Funding is contingent on meeting defined cost-sharing and project readiness criteria.

Approved applicants can receive between $10,000 to $300,000 to cover eligible project costs.
Funding for Indigenous applicants covers up to 75% of total eligible project costs, requiring a minimum matching contribution of 25% from applicants.
All other applicants can receive funding for up to 50% of total eligible project costs, mandating a minimum contribution of 50% from applicants.
The total eligible project costs must meet minimum thresholds: $13,333 for Indigenous applicants and $20,000 for other applicants.
No maximum total project cost, but grant funding is capped at $300,000 per project.
Grants aim to achieve tangible outcomes in investment readiness, regional attractiveness, and business support.

grant_single_labels|projects

This grant focuses on promoting regional economic development and diversification through various project types. The initiatives aim to increase investment readiness, support local industry, and enhance regional attractiveness.

Planning and feasibility studies to prepare for future development projects.
Training or events aimed at skill enhancement and capacity building.
Marketing and investment/regional promotion to attract private investment and improve regional appeal.
Business retention and expansion projects to support local business growth and competitiveness.
Innovative initiatives, pilot projects, and research & development aligned with program priorities.

grant_single_labels|admissibility

Eligibility for this grant is limited to specific entities committed to economic development with a focus on regional growth.

The applicant must be an incorporated non-profit organization with an economic development mandate.
The applicant can be a municipality within Alberta.
Indigenous communities, including First Nations or Métis Settlements, are eligible to apply.
Applications from project-based partnerships are allowed, provided the application is submitted by an eligible entity acting as the lead.

grant_eligibility_criteria|who_can_apply

Eligible applicants for the Northern and Regional Economic Development (NRED) Program include:- Incorporated non-profit organizations that have an economic development mandate.- Municipalities in Alberta.- Indigenous communities, including First Nations or Métis Settlements.Applications are also permitted from project-based partnerships, provided the application is submitted by an eligible entity listed above. This leading entity will enter an agreement with the Alberta government on behalf of their organization and their partner(s).

grant_eligibility_criteria|eligible_expenses

The grant funds projects that drive regional economic growth and diversification through strategic planning and business support initiatives. Eligible activities focus on investment, business expansion, and sector-specific studies to enhance regional development capabilities.

Increase investment readiness and regional attractiveness for private investment.
Support planning and feasibility studies that lead to economic development enabling investments to boost regional growth.
Support local and regional business and industry, business retention and expansion.
Planning/feasibility studies including market analyses and feasibility studies for new ventures.
Training or events focusing on skill enhancement and capacity building.
Marketing and investment/regional promotion initiatives targeting private investment and regional promotion.
Business retention and expansion projects supporting growth and competitiveness of local businesses.
Innovative initiatives, pilot projects, research and development, and unique approaches aligning with program priorities.

grant_eligibility_criteria|zone

This grant is specifically aimed at supporting entities within Alberta, Canada. The geographical eligibility aligns with the focus on regional economic development in Alberta.

Municipalities within Alberta
Indigenous communities, including First Nations or Métis Settlements in Alberta
Non-profit organizations with an economic development mandate located in Alberta

grant_single_labels|criteria

Yes, there are evaluation and selection criteria for this grant. Projects will be evaluated based on their alignment with the program priorities, feasibility, and potential for tangible economic development impacts.

Alignment with one or more of the specified priority areas: investment readiness, regional attractiveness, local and regional business support, business retention and expansion.
Feasibility and readiness to begin immediately at the start of the grant period.
Tangible and impactful economic development results within the project's scope.
Completeness and thoroughness of the application, including all required supplemental documentation.
Ability to match the funding requested at the minimum required percentage of total project cost.
Effective use of grant funds within the allowable project timeframe (must not exceed 3 years).

grant_single_labels|apply

grant_single_labels|otherInfo

The Northern and Regional Economic Development (NRED) Program funds various initiatives to promote economic development and diversification in Alberta. The program is open for applications from September 16, 2024, and has specific eligibility criteria and application requirements.

Entities eligible to apply include incorporated non-profit organizations, municipalities, and Indigenous communities.
Approved applicants can receive between $10,000 to $300,000 to support eligible project costs.
For Indigenous applicants, the program will cover up to 75% of total eligible project costs with a minimum project cost of $13,333.
For other applicants, the program will cover up to 50% of total eligible project costs with a minimum project cost of $20,000.
Eligible projects must support economic development in priority areas like investment readiness, planning/feasibility studies, training/events, marketing, and business retention/expansion.
Projects must be ready to begin immediately and be completed within 3 years.
Applications must be submitted through an online portal starting September 16, 2024, with a deadline of December 6, 2024.
Applicants must submit a budget template, management and measures template, quotes, letters of commitment, and evidence of in-kind contributions.
Successful applicants will be required to sign a grant agreement and regularly report on project financial status and outcomes.