Government of Canada Launches Jobs and Growth Fund to Create Jobs and Support Economic Activity in Canadian Communities
Applications can now be submitted for a new fund supporting clean and inclusive recovery and long-term economic growth
STEVENSVILLE, ON, July 13, 2021 / CNW Telbec / – As Canada strives to emerge from the COVID-19 pandemic, healthy businesses and communities are key to our economic recovery. The government of Canada pledged to create 1 million jobs. Today’s investment is aimed at supporting the transition to a green economy, fostering an inclusive recovery, improving competitiveness and creating jobs in all corners of the country.
Today, the Honorable Mélanie Joly, Minister of Economic Development and Official Languages, announced that businesses and organizations Canada can now submit applications through the new Jobs and Growth Fund.
RDAs are now accepting applications
Delivered by from Canada regional development agencies (RDA), the new fund offers $ 700 million support a regional response and boost economic recovery from the COVID-19 crisis by investing in projects that will help create jobs over the next three years and beyond. This includes up to $ 70 million spent on businesses created after January 2020 that meet the eligibility criteria. By investing in job creators, the fund will help them prepare for the future, build resilience and position businesses for a strong recovery by embracing clean technologies, increasing diversity, implementing new digital technologies and building capacity in critical sectors.
Companies and the organizations that support them can now apply. Applications are accepted on a continuous admission basis until March 31, 2024, or until funding is fully committed. For more information on eligibility criteria and eligible expenses, or to apply for the Jobs and Growth Fund, contact your local ADR.
Thanks to this fund and the recently announced program Canadian Community Revitalization Fund, Support initiative for major festivals and events and the Tourism aid fund, from Canada The RDAs continue to be trusted partners, providing targeted support for economic recovery through Canada.
“By investing in our job creators and the organizations that support them, the Jobs and Growth Fund will help create quality jobs, seek opportunities for inclusive and clean growth, and empower businesses and communities.” form an ocean to another. Our government has a plan to end the fight against COVID-19 and ensure a resilient economic recovery that creates good jobs and growth for all Canadians. Today’s announcement is an important step forward in getting us there.
– The Honorable Mélanie Joly, Minister of Economic Development and Official Languages
“As we move through this pandemic, our government’s goal is to ensure a resilient economic recovery that creates jobs and growth. With the support of FedDev Ontario, businesses and the organizations that support them will be able to prepare for the future by investing in initiatives that drive sanitation, growth, inclusiveness and digital adoption in the south. Ontario, we will do this by investing in job creators to help them sustain their businesses, build resilience and catalyze growth. “
– Vance Badawey, Member of Parliament for Niagara Center
Eligible recipients include businesses (including cooperatives) and business support organizations, such as nonprofits, community economic development partners, and Indigenous-led organizations and / or businesses.
Eligible businesses could normally receive repayable interest-free contributions up to 50% of authorized costs. Eligible non-profit organizations could normally receive non-repayable contributions up to 90% of authorized costs. Indigenous-led organizations and / or businesses may be eligible to receive up to 100% of eligible project costs.
Since the onset of COVID-19, from Canada The RDAs have been on the ground providing relief and recovery funds to businesses and organizations to help them overcome the effects of the pandemic through the $ 2 billion Regional Relief and Recovery Fund, preserving more than 125,000 jobs.
Jobs and Growth Fund
from Canada Regional development agencies
Canadian Community Revitalization Fund
Tourism aid fund
Support initiative for major festivals and events
Budget 2021: Strengthening the cities and communities in which we live
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SOURCE Innovation, Science and Economic Development Canada
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