There is a new grant program available to communities to stimulate economic development.
The Alberta government has introduced the new Community and Regional Economic Support (CARES) Program. The program, which makes available $30 million over two years, is to fund locally developed projects that promote long term economic growth and diversification.
“Business and community leaders across the province helped us create the Alberta Jobs Plan. This new support will put homegrown projects and economic development plans into action and help ensure Alberta’s cities and towns continue to be Canada’s best places to do business,” said Deron Bilous, Minister of Economic Development and Trade.
Mayor Terry Yemen sees some possibilities in the new grant program. “Two projects that come to mind would be the washrooms at the suspension bridge and at the Hoodoos. The town will also be sitting down with its regional partners to see if we can come up with some co-operative projects,” said Yemen.
The grant is aimed at projects that improve the local business environment and regional economic collaboration, provide more support for entrepreneurs to grow and succeed, support industries with a strong potential to diversify and attract investment that drives high-value job creation.
The first intake for applications for the CARES program opened on October 1, and ends Wednesday, November 30.
“This support from the province will go a long way towards enabling communities and regions to undertake economic development initiatives that will assist local entrepreneurs and established businesses in accessing new partnerships and markets that will help them grow their business,” said Jay Slemp, Chair, Palliser Economic Partnership.
