Deadline: 1-Oct-21
The Coast Funds is pleased to announce Economic Development Fund that aims to facilitate sustainable economic development by funding environmentally sound projects and businesses that will achieve the following goals:
- Grow Participating First Nations’ economic share of commercial activities, such as shellfish aquaculture, tourism, and cultural products;
- Increase the number of businesses owned by First Nations communities or individuals living in the Project Area;
- Increase investment in First Nations sustainable business partnerships (i.e., leverage);
- Contribute towards a stable or increasing population in the project area and its communities;
- Increase First Nations participation in, and contributions towards, the provincial economy;
- Improve First Nations employment levels and decreasing unemployment rates;
- Increase First Nations average annual incomes;
- Increase the capacity of First Nations communities to realize sustainable economic development opportunities, including increased access to skills development / training; and
- Enhance the economic infrastructure of the North and Central BC Coast to support First Nations businesses within the Project Area.
Eligible Projects
- The economic development fund supports environmentally sound and sustainable economic development activities throughout the GREAT BEAR RAINFOREST AND HAIDA GWAII.
- Priority will be given to projects that have positive environmental or social impacts, direct or indirect.
- Projects and businesses that may be eligible for funding:
- Shellfish aquaculture
- Fisheries
- Technology and communications infrastructure (e.g. broadband internet)
- Wildlife viewing
- Nutraceuticals
- Mushroom harvesting
- Non-timber forest products
- Tourism, including cruises, trails, and strategic cultural/marketing infrastructure
- Ecosystem-based management compliant forestry operations
- Non-nuclear and non-carbon burning energy projects
- Green building projects
- Small scale, non-toxic, subsurface rock, mineral or gem extraction projects
- Economic development capital corporations that utilize funding standards consistent with the Fund’s policies and guidelines.
- Transportation infrastructure (e.g. airports, wharves, marinas)
- Small Business infrastructure (e.g. retail market space, small business or artisan incubator facilities)
- Other infrastructure that will support any of the above projects and businesses.
Please note the following are required documents for infrastructure project funding applications:
- For an application proposing an infrastructure project to be considered eligible, applicants must submit one of the following documents that will be considered equivalent to a business plan:
- A business plan for a business that will benefit directly from the infrastructure investment; or
- A summary analysis of the projected direct economic benefits to existing businesses in the community, and the potential for creation of new businesses directly resulting from the infrastructure investment.
- All infrastructure applications must also include both of the following documents:
- A detailed capital expenditure budget for the infrastructure investment, including valid quotations for materials and construction; and
- A detailed multi-year operating and maintenance (O&M) budget to support the infrastructure.
Eligibility Criteria
- A PARTICIPATING FIRST NATION (one of the 27 First Nations or 3 Regional Organizations specified in Schedule G of the Conservation Investments and Incentives Agreement) as represented by the authorized governing body of the Nation; or
- Any other entity fully or partially owned or controlled by the Participating First Nation which has a resolution from the Participating First Nation supporting a complete funding application; or
- An individual member of a Participating First Nation or business owned by any such individual who has a resolution supporting a complete funding application.
For more information, visit https://coastfunds.ca/apply/economic-development-funding/