The objective of the program is to support the growth of economic development readiness in communities of all sizes across the ICET region, to support high value investment attraction and retention and to foster regional economic collaboration.

This program will help smaller communities develop their economic strategies, develop the tools they need to attract economic investment and collaborate with other communities to develop regional economic strategies and marketing initiatives. The program will also assist larger communities refine their economic development toolbox and improve their competitive position to attract investment to the region.

Eligible applicants include local governments, non profit economic development organizations, First Nations and other regional or sectoral organizations involved in economic development activities. 

Eligible Activities:

Under the Economic Development Readiness Program (EDRP) eligible applicants can apply for matching funding to develop economic strategies, develop tools to attract economic investment and collaborate with other communities to develop regional economic strategies and marketing initiatives.

Eligible applicants can also apply for matching funding to implement Economic Development Quick Start Projects or short term, easy to realize initiatives prioritized in a recent economic development strategy.

Funding available:

Eligible organizations may apply for funding up to a maximum of $30,000 per year, or up to a maximum of $15,000 to implement Economic Development Quick Start projects.

The EDRP is a cost-sharing program and participants must contribute 50% in cash of the total project cost. Up to 2 requests for funding per calendar year may be submitted provided the first request has been fully completed and the annual funding cap has not been reached

Application process:

This process is designed to be time-sensitive and to provide applicants with a final decision within 60 days of receiving a complete application. Applicants must first contact ICET staff to discuss and validate their project idea, then complete a simple application form. The application will be reviewed and a final decision will be made by the Board of Directors at the next available meeting date.

Application intake:

  • Continuous

 

Application Form & Guidelines

2,685
person years employment created (construction phase)
50
locally elected officials and MLAs working together
$10.4
million annual provincial government revenue generated
2,415
post completion jobs created
4.7
dollars leveraged for every ICET dollar invested
$269
million leveraged into the region
$45.7
million disbursed
48.7
million committed
130
economic development projects
106
projects completed
34%
projects in small (less than 5,000) communities
50+
communities with ICET projects

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