Northern and Regional Economic Development Program
AB, Canada
Drive regional economic growth and diversification with funding up to $300,000
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Grant and Funding
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- Government of Alberta
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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.
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The NRED Program funds initiatives that support economic development focusing on investment readiness, planning studies, business support, marketing, and innovative projects.
- 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: market analyses, feasibility studies for new ventures, and other planning activities.
- Training or events: enhancing skills and capacity through conferences, webinars, or other training events.
- Marketing and investment/regional promotion: attracting investments, promoting the region, and improving appeal to private investors through targeted campaigns and strategies.
- Business retention and expansion projects: direct support to businesses to help them scale and become more competitive.
- Other: innovative initiatives, pilot projects, research and development, and unique approaches that support investment readiness, economic development, and business supports.
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The Northern and Regional Economic Development (NRED) Program has specific eligibility criteria for applicants. The criteria ensure that only qualified entities with an economic development mandate can apply.
- Incorporated non-profit organizations that have an economic development mandate
- Municipalities
- Indigenous communities, including First Nations or Métis Settlements
grant_eligibility_criteria|who_can_apply
The Northern and Regional Economic Development (NRED) Program is open to specific types of entities that are eligible to apply for funding. These entities include incorporated non-profit organizations with an economic development mandate, municipalities, and Indigenous communities including First Nations or Métis Settlements.
- Incorporated non-profit organizations with an economic development mandate
- Municipalities
- Indigenous communities, including First Nations or Métis Settlements
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant cover costs related to planning/feasibility studies, training or events, marketing and investment/regional promotion, business retention and expansion, and other projects that align with program priorities.
- Planning/feasibility studies
- Training or events
- Marketing and investment/regional promotion
- Business retention and expansion
- Other projects aligning with program priorities
grant_eligibility_criteria|zone
Eligible geographic zones for the NRED Program are based in Alberta, Canada. This includes northern regions, regional areas, and communities across the province.
- Northern Alberta
- Central Alberta
- Southern Alberta
- Alberta municipalities
- Indigenous communities including First Nations or Métis Settlements
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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).
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- Step 1: Read the program requirements
- We encourage applicants to review the NRED Program Application Guidelines and associated supplementary forms to learn about the criteria and requirements.
- Step 2: Create a user account and log into the online application portal
- The online application portal will be available on September 16, 2024.
- All applications must be submitted through the online application portal.
- Applicants will be prompted to create an Alberta.ca account with a secure login name and password when logging in for the first time.
- Once the account has been created, applicants will gain access to the online application portal.
- Only a ‘basic’ account is required to access the online application portal, your account does not need to be verified with your ID.
- If you have issues creating or accessing your account, contact the Alberta.ca Account team at: 1-844-643-2789 or [email protected].
- Step 3: Complete and submit an online application
- We encourage applicants to review the NRED Application Companion Guide before applying.
- Applicants must provide:
- a completed NRED Budget Template (will be available starting on September 16, 2024)
- a completed NRED Management and Measures Template (will be available starting on September 16, 2024)
- quotes and estimates Include quotes, estimates, or historical data to substantiate the costs listed in the budget.
- letters of commitment Include letters from project collaborators or funding sources confirming their financial contributions
- in-kind contributions If in-kind contributions are included, provide a detailed valuation and evidence of these contributions.
- any additional supplemental project documentation
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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.
grant_single_labels|contact
1-833-538-6733
Apply to this program
Northern and Regional Economic Development (NRED) Program Overview
The Northern and Regional Economic Development (NRED) Program, offered by Alberta's government, aims to support economic diversification and growth through funding initiatives led by municipalities, Indigenous communities, and non-profit organizations. The grant provides between $10,000 to $300,000 for projects that increase investment readiness, support business retention and expansion, and promote regional attractiveness for private investment.
Detailed Explanation of the Northern and Regional Economic Development (NRED) Program
The Northern and Regional Economic Development (NRED) Program in Alberta is a key initiative designed to foster economic diversification and regional growth by providing financial support to various eligible entities, including municipalities, Indigenous communities, and non-profit organizations with an economic development mandate. By financing projects that enhance investment readiness, boost local businesses, and attract private investment, this program aims to generate substantial economic benefits across Alberta's northern and regional areas.
Program Overview and Eligibility
The NRED Program, recently updated for the 2024/2025 intake period, is open for applications starting September 16, 2024. It has a wide range of eligible projects that align with its objectives of stimulating economic growth and diversification. The program categorizes applicants into two main groups: Indigenous applicants and all other eligible entities, including northern and regional projects.
Eligibility for Indigenous Applicants
Indigenous communities, including First Nations and Métis Settlements, can receive funding covering up to 75% of eligible project costs, with the requirement of a minimum total project cost of $13,333. These applicants must match a minimum of 25% of the total project cost.
Eligibility for Northern and Regional Projects
For municipalities and other incorporated non-profit organizations with an economic development mandate, the NRED Program offers funding for up to 50% of eligible project costs. The minimum total project cost for these projects is $20,000, and applicants must provide a matching fund of at least 50% of the total project cost.
Eligible Projects and Priority Areas
Projects eligible for NRED funding need to align with one or more of the following priority areas:
- Increasing investment readiness and regional attractiveness for private investment
- Supporting planning and feasibility studies that lead to economic development-enabling investments to boost regional growth
- Supporting local and regional business and industry, business retention and expansion
Furthermore, projects must be ready to commence immediately and should be completed within a three-year period. Eligible projects are typically classified into several types:
Planning/Feasibility Studies
This category includes market analyses, feasibility studies for new ventures, and other planning activities that establish a foundation for future development projects. This preparatory phase is crucial for understanding the economic landscape, identifying opportunities, and planning strategically for long-term growth.
Training or Events
Projects focused on enhancing skills and capacity through conferences, webinars, or other training events fall under this category. These initiatives aim to equip local businesses and communities with the knowledge and skills necessary for economic and entrepreneurial success.
Marketing and Investment/Regional Promotion
This type of project involves initiatives aimed at attracting investments and promoting the region to improve its appeal to private investors. These projects may include targeted marketing campaigns, branding strategies, and other promotional activities designed to highlight the unique economic opportunities within a specific region.
Business Retention and Expansion Projects
These projects support the growth and expansion of local businesses by providing direct support to help them scale and become more competitive. Initiatives may include business advisory services, infrastructure improvements, and other support mechanisms tailored to the needs of local enterprises.
Other Innovative Projects
Additionally, the NRED Program welcomes unique or pilot projects that, while not fitting into the aforementioned categories, align with the program's priorities and show potential for significant economic impact. These can include research and development efforts, novel approaches to investment readiness, and other innovative initiatives.
Application Process
The application process for the NRED Program is comprehensive and requires careful preparation. Here are the steps involved in applying:
Step 1: Review Program Requirements
First, potential applicants should thoroughly review the NRED Program Application Guidelines and any associated supplementary forms. Understanding the criteria and requirements is essential for submitting a strong application.
Step 2: Create a User Account
Starting September 16, 2024, applicants will need to create a user account and log into the online application portal. This portal can be accessed via Alberta.ca, where applicants must create an account with a secure login name and password. Only a ‘basic’ account is required, which does not need ID verification.
Step 3: Complete and Submit an Online Application
The application itself requires several key pieces of documentation:
- A completed NRED Budget Template (available starting September 16, 2024)
- A completed NRED Management and Measures Template (available starting September 16, 2024)
- Quotes, estimates, or historical data to substantiate the costs listed in the budget
- Letters of commitment from project collaborators or funding sources
- Detailed valuation and evidence of any in-kind contributions
- Any additional supplemental project documentation
It is highly recommended for applicants to review the NRED Application Companion Guide before applying to ensure that all necessary documents and information are included.
Reporting and Accountability
Successful applicants will enter into a grant agreement with Alberta's government, which outlines the terms and conditions of the support provided. This agreement must be signed by representatives from both the recipient organization and the Alberta government before any funds are released.
As part of the grant agreement, recipients are required to regularly report on the financial status of their projects and the outcomes achieved. The specific reporting schedule and requirements will be detailed in the grant agreement. Any significant changes to project scope or other contractual obligations must be agreed upon by both parties to ensure transparency and accountability.
Examples of Successful Projects
Previous recipients of the NRED Program grant include a wide variety of impactful projects across Northern, Central, and Southern Alberta. Some examples include:
- Arts Council Wood Buffalo: Received $200,000 for an arts incubator project in Fort McMurray, transforming the ACWB property into a creative hub for economic opportunities.
- Lac La Biche County: Awarded $200,000 for the Main Street Revitalization project aimed at increasing business attraction and improving the visitor experience.
- Alberta HUB: Secured $86,830 to support a feasibility study for the Northeast Alberta Sector Development Strategy, contributing to regional growth.
These projects highlight the diverse ways in which the NRED Program contributes to community and economic development across Alberta.
Conclusion
The Northern and Regional Economic Development (NRED) Program represents a significant opportunity for municipalities, Indigenous communities, and non-profit organizations in Alberta to drive economic growth and diversification. By providing financial support for projects that enhance investment readiness, promote regional attractiveness, and support local businesses, the NRED Program plays a crucial role in building a more resilient and prosperous economic future for Alberta's northern and regional areas.
Prospective applicants are encouraged to carefully review the program guidelines, prepare their documentation thoroughly, and ensure their projects align with the priority areas to maximize their chances of success in securing funding.
