The objective of the Economic Infrastructure Program is to support strategic economic diversification investment in the regional economy to spark new and sustainable regional economic growth and jobs. The program also seeks to leverage matching funding and incremental investment.

The program supports eligible projects with non-repayable contributions up to a maximum of $400,000. Eligible applicants include local governments, non-profits and First Nations. Businesses are not eligible as sole applicants for direct funding support.

The program funds economic development projects that demonstrate:

  • regional impact
  • consistency with any local or regional development plans
  • incremental economic benefits
  • direct economic development and diversification impacts
  • cooperation between communities, local governments and other organizations
  • long term sustainability

To adjust for variations in economic vitality between communities applying for funding, ICET uses a sliding scale matching funding formula for its contribution of 1:1 (up to 1/2) for smaller, remote and resource dependent communities, 1:2 (up to 1/3) for smaller but thriving communities and 1:3 (up to ¼) for fast growing and less resource reliant communities.

  1. The One Step Process

    This is a simpler, more time sensitive review process for applicants requesting $50,000 or less in funding. Applicants will complete one application form which will be reviewed by the appropriate Regional Advisory Committee and the Board of Directors before a final decision is made. This application process will usually take from 1-3 months to complete.

  2. The Two Step Process

    This is a more detailed process for applicants requesting over $50,000 in funding. The first stage consists of a summary project application which is reviewed by the appropriate Regional Advisory Committee and the Board of Directors. Successful applicants are then invited to submit a more detailed Stage 2 application to the Board of Directors for a final decision. The full application process will usually take from 3-9 months to complete, subject to the applicant’s readiness to submit the Stage 2 application.

The specific region where the Trust may invest is defined on the map.

2,570
person years employment created (construction phase)
50
locally elected officials and MLAs working together
$10.4
million annual provincial government revenue generated
2,595
post completion jobs created
$4.61
dollars leveraged for every ICET dollar invested
$270
million leveraged into the region
$46.5
million disbursed
$49.6
million committed
170
economic development projects
130
projects completed
38%
projects in small (less than 5,000) communities
50+
communities with ICET projects

Stay informed with our latest news!

Subscribe to Press Releases feed