Investment Attraction Fund

Overview of the Investment Attraction Fund program:

The Investment Attraction Fund (“Fund”) is designed to attract large-scale businesses and foreign direct investment (“FDI”) to the Province of Newfoundland and Labrador (“the province”). It provides customized financial assistance to inward investors in support of establishing a business in the province or expanding a business as a result of FDI. The Fund consists of an allocation for loans and advances towards strategic investments in infrastructure support costs, human resource costs or other costs, as determined by the Department of Industry, Energy and Technology.

Benefits of the Investment Attraction Fund program:

• For the purpose of this Fund, inward investment includes investments in start-up or expansion activated by investors external to the province. The investment may be in the form of equity or loans. Inward investments require a direct contribution of funds by the inward investor in addition to any potential funding that may be sourced from the Government of Canada, commercial lending institutions and/or venture capital firms.

Eligibility criteria of the Investment Attraction Fund program:

• To be eligible for funding, the business must:
• Be a duly registered company or commit to taking the necessary steps to become a registered company under the Newfoundland and Labrador Corporations Act and/or the Canada Business Corporations Act and legally entitled to conduct business in the Province;
• Have or commit to have operations situated in the Province;
• Be in good standing with the Province.
• The business plan must also demonstrate that the project:
• Would not proceed without the requested funding support;
• Be a result of inward investment;
• Has the potential for long-term sustainability;
• Will create employment; and,
• Can bring economic benefit to the Province considering funding provided to the investor from all provincial government sources.