Jobs and Growth Fund: Helping Businesses Expand in British Columbia

Jobs and Growth Fund

The Jobs and Growth Fund looks to fund local businesses and organizations within British Columbia. The purpose of the fund is to prepare local economies for growth over an extended period by building resiliency, future-proofing their existing businesses, enhancing competitiveness, and creating jobs all around the country. Canada’s regional development agencies provide access to this fund, alongside $700 million nationally over three years.

Type of Funding Available

The Jobs and Growth Fund has been dedicated $70 million from Canada’s regional development agencies for businesses that meet the eligibility criteria. Eligible companies can cover 50% of their eligible costs through interest-free repayable contributions. Not-for-profit organizations can have up to 90% of their eligible costs covered by non-repayable contributions. Indigenous-led organizations and businesses can have up to 100% of their eligible costs for projects covered.

Eligible Applicants

  • Businesses, majorly SMEs, with fewer than 500 full-time equivalent employees
  • Not-for-profit organizations, including community economic development partners
  • Indigenous-led organizations and businesses

Eligible Activities

Activities that are supporting the transition to a green economy, such as:

  • Activities that are involved with the development and adoption of clean technology
  • Partnering with organizations that help develop and sustain clean economic growth in businesses
  • Partners of organizations contributing to the development of green regional clusters
  • Organizations that support businesses transition into a green economy

Activities that support and encourage inclusive recovery, such as:

  • Support of businesses owned or led by underrepresented groups in society
  • Activities that have increased participation of underrepresented groups in the economy supporting not-for-profit organizations to provide funding, business services, training, and access to resources and build a more inclusive workforce

Activities that preserve Canada’s competitiveness and future-proof businesses through digital adoption, such as:

  • Supporting the development and adoption of digital and technological solutions, to increase and promote business productivity
  • Investing in technologies that help scale businesses, enhance their capabilities and increase resilience

Activities strengthening the capacity of sectors critical to Canada’s recovery and growth, such as:

  • Activities that involve scale-up and market expansion to reinforce traditional areas of strength
  • Developing emerging and innovative areas supporting global competitive advantage
  • Activities that support supply chain adaptation as well as diversification opportunities that will enhance Canadian capacity in essential sectors

Project Timeline:

There is no specific deadline for the Jobs and Growth Fund. Funding is allocated on a continuous intake basis until no more funding is accessible. The anticipated date for the project activity to be ceased could be as late as March 31, 2024. 

Contact EVAMAX today to get started on your application!

Like this article?

Leave a comment