By Dori Modney (@Dori_Modney on Twitter)

Alberta Sets Out $30-Million to Support Job Creation and Diversify Local Economies

Sep 7, 2016 | 1:33 PM

EDMONTON –  The province has rolled out more information on its Alberta Jobs plan on Wednesday.

There will be more financial support for municipalities and organizations to work together on economic development projects that diversify and grow local economies. However, there was no indication of a plan to gauge the success of the Jobs plan.

Through the new Community and Regional Economic Support (CARES) program, communities will have access to $30 million over two years. 

 The money will be distributed in several ways, including:

— Up to $26.45 million for communities, regions, municipalities and other eligible organizations;

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— $2.2 million for Regional Economic Development Alliances to enhance existing initiatives;

— $600,000 for four Rural Alberta Business Centres to support 2016-17 operations; and

— $750,000 for the Regional Municipality of Wood Buffalo to support the Back to Business Resource Centre and business recovery expos in Fort McMurray.

 Municipalities, communities and organizations can apply for grants through the CARES program online starting October 1 for 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.

According to Economic Development and Trade Minister Deron Bilous, grant funding will be made available through Community and Regional streams.

“Community projects eligible for funding, under the community economic development stream, are those that build local economic development capacity and strengthen local approaches to improve economic conditions. Funding for Community initiatives will begin at $10,000 and cover up to 50-per cent of the project’s value.”

As for the Regional initiative, Bilous noted similar criteria.

“The funding for regional initiatives begins at $25,000 and covers up to 50-per cent of the project, which must use a collaborative approach between communities and support partners to provide a regional impact.”

Business and community leaders across the province helped the province create the Alberta Jobs Plan, which will help pay for locally developed projects that promote long-term economic growth, particularly projects that communities wouldn’t normally be able to fund on their own.

Bilous calls it “essentially seed funding to help communities come together to put forward business plans and offer the basic building blocks to attract investment.”

When questioned about a projected outcome for the plan, Bilous stated, “This is about supporting our communities, whether it be individual municipalities or larger regions, to give them capacity and working with them to get off-the-ground and businesses up and running – in addition, we’re moving the province in a direction where we are becoming more competitive regionally.”

Bilous noted that part of the $30-Million came from Budget 2015, for the Community portion of the funding and Budget 2016 will handle the Regional portion of the funding.

When asked how the plan will be monitored, Bilous took a roundabout route that failed to offer a concrete explanation, “What we’re trying to do is give communities the opportunity to be able to put together a business case and whether it’s an impact assessment  – looking at – you know, those basic building blocks that they need to then be able to attract, whether it is investment, attracting companies, and again, a part of this funding is to support regional economic development.”

When, again, asked how he would know if the plan is doing what it has set out to do, Bilous stated, “We’ll see through the applications.”  He then noted that when travelling the province since last October, he heard from groups that had ideas and abilities and know what they need to do but, they need support to move forward.

The CARES Program will have three grant application intake periods, with the first one beginning on Oct. 1, 2016 and ending Nov. 30, 2016. For more information on program eligibility criteria and how to apply, visit the CARES program webpage.