Alberta’s government is investing in projects that fuel even more economic development and diversification across the province.
Municipalities, Indigenous communities, and non-profit organizations across Alberta can now apply for funding for projects promoting regional economic growth and diversification.
The Alberta Government has announced the Northern and Regional Economic Development (NRED) program. The program commits up to $2 million to go towards the delivery of business supports, attraction and retention of workers, as well as enhance the tourism industry and build capacity for economic growth.
“Communities across Alberta have unique needs and priorities,” said Minister of Jobs, Economy and Norther Development Brian Jean.
“All Albertans deserve to benefit from the renewed Alberta Advantage, so our government is supporting projects that help create jobs, attract investment and fuel opportunities and economic prosperity across our province.”
Eligible projects could include those that centre on supporting new resources within a municipality or organization revitalizing central business distraicts, or developing strategies to address local labour force gaps and improving internet connectivity in commercial areas.
“Supporting Alberta business starts from the ground up. The Northern and Regional Economic Development program will give community members the chance to invest in projects that help bring in jobs while fueling growth in their local economy,” said MLA Martin Long, parliamentary secretary for small business.
Approved applicants could receive between $20,000 and $200,000 per project. NRED will provide up to 50 per cent of total eligible project costs. Indigenous applicants could receive up to 75 per cent of total eligible project costs. There is a dedicated funding stream for northern projects/those led by Indigenous communities to support their unique economic challenges.
The application deadline is Jan. 22, 2023.
To learn more about the Northern and Regional Economic Development Program or apply for funding visit https://www.alberta.ca/northern-and-regional-economic-development-program.aspx
If you have questions or concerns about NRED, contact your Red Deer-North MLA office using the form here.