Economic Development Funding

Overview of the Economic Development Funding program:

The economic development fund is committed to fostering sustainable businesses and community-centric employment within the designated project region, harmonizing with conservation principles. This initiative envisions enhancing the capacity of First Nations to tap into diverse, sustainable economic avenues, supported by augmented skill development and training opportunities. It aims to fortify the economic infrastructure of the North and Central BC Coast, expand the role of First Nations in sectors like shellfish aquaculture, tourism, and cultural artifacts, increase the number of First Nations-led businesses in the project area, and boost investments in eco-friendly business collaborations, all while aiming to improve employment metrics.

Benefits of the Economic Development Funding program:

• The economic development fund supports eligible sustainable businesses and community-based employment opportunities in the project area, consistent with goals of conservation. Its goals for PARTICIPATING FIRST NATIONS include:
• Increasing capacity to realize diverse and sustainable economic development opportunities, including increased access to skills development and training;
• Enhancing the economic infrastructure of the North and Central BC Coast to support First Nations businesses within the PROJECT AREA;
• Growing the economic share of commercial activities, such as shellfish aquaculture, tourism, and cultural products;
• Increasing the number of businesses owned by First Nations communities or individuals living in the Project Area;
• Leveraging increased investment in sustainable business partnerships; and
• Improving employment levels and decreasing unemployment rates.

Eligibility criteria of the Economic Development Funding program:

• Eligible Applicants
• A PARTICIPATING FIRST NATION (one of the 27 First Nations or 3 Regional Organizations specified in Schedule G of the Conservation Investments and Incentives Agreement see OUR MANDATE) as represented by the authorized governing body of the Nation; or
• Any other entity fully or partially owned or controlled by the Participating First Nation that has a resolution from the Participating First Nation supporting a complete funding application; or
• An individual member of a Participating First Nation or business owned by any such individual who has a resolution supporting a complete funding application.
• Projects and businesses that may be eligible for funding:
• Shellfish aquaculture
• Fisheries
• Technology and communications infrastructure (e.g. broadband internet)*
• Wildlife viewing
• Nutraceuticals
• Mushroom harvesting
• Non-timber forest products
• Tourism, including cruises, trails, and strategic cultural/marketing infrastructure*
• Ecosystem-based management compliant forestry operations
• Non-nuclear and non-carbon burning energy projects
• Green building projects
• Small scale, non-toxic, subsurface rock, mineral or gem extraction projects
• Economic development capital corporations that utilize funding standards consistent with the Funds policies and guidelines.
• Transportation infrastructure (e.g. airports, wharves, marinas)*
• Small Business infrastructure (e.g. retail market space, small business or artisan incubator facilities)*
• Other infrastructure that will support any of the above projects and businesses.*