Northern Development has already approved nearly $2.5 million in new funding in 2014, and has increased its annual grant allocation limit and updated several funding programs
Central and Northern B.C. – More money for economic development projects will be available than ever before from Northern Development in 2014. In February, the Trust’s board of directors unanimously supported a decision to increase the annual grant allocation from 5% to 7% of the capital base, meaning that a total of $11.4 million in grants will be available to local governments, First Nations and non-profits throughout the region in 2014. Read the full story here.
Meantime, Northern Development’s board of directors has approved nearly $2.5 million in funding for projects throughout central and northern B.C. in the first two months of 2014. At the end of February, some 60 unique economic development and capacity building projects had been approved for funding, including:
- Â $250,000 for a new and improved Chetwynd visitor centre;
- Â $250,000 for a recreation centre and arena upgrade in Mackenzie;
- Â $250,000 for upgrades at Prince Rupert Airport;
- Â $250,000 for the development of the Port of Haida Gwaii at Port Clements; and
- $169,565 for downtown revitalization in the Village of Telkwa
Read the full story here.
As well, included in the $2.5 million in funding approvals so far this year is $400,000 in funding for business façade improvements in 20 communities throughout central and northern B.C. Each of the 20 communities will receive $20,000 to partner with local businesses to improve the look and feel of commercial areas. To find out what communities will receive grants, read the full story here.
Quick Facts:
- In 2013, Northern Development approved $6.1 million in funding for 222 economic development projects
- In 2013, the board approved more than 99% of the applications submitted to the Trust
- Approximately 72% of the Trust’s funding approvals go into communities with less than 5,000 people
- Since inception, the Trust has approved $118 million in funding to 1,327 projects throughout central and northern B.C.
- Northern Development provides grant and loan funding to municipalities, regional districts, First Nations and non profit organizations
- The Trust manages 13 distinct funding programs and a host of capacity building services that provide crucial support to 49 local governments and 88 First Nations communities in an area that encompasses 75% of B.C.
Contact:
Joel McKay
Director, Communications
Northern Development Initiative Trust
250-561-2525
joel@northerndevelopment.bc.ca
