Deputy Prime Minister Highlights Support through Jobs and Growth Fund for Atlantic Canada
New fund supports businesses recovery so they create jobs and have a strong, long-term recovery
July 23, 2021 – Fredericton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, was in Fredericton to highlight how Atlantic Canada will benefit from the Government of Canada’s Jobs and Growth Fund. Announced on July 13th, 2021, the $700-million Jobs and Growth Fund aims to help businesses recover and grow, enhance competitiveness, support the green transformation of our economy, foster an inclusive recovery and create jobs in every corner of the country.
This funding was first announced in Budget 2021 and will be delivered by Canada’s regional development agencies (RDAs).
The COVID-19 recession is the steepest and fastest economic contraction since the Great Depression and it has affected communities from coast to coast to coast. This initiative provides a regional response by investing in projects that will help to create jobs, over the next three years and beyond. By investing in job creators, the fund will help them to build resiliency and prepare for growth by adopting clean technology, increasing diversity, implementing new digital technologies, and strengthening capacity in critical sectors.
ACOA is now accepting applications
The Atlantic Canada Opportunities Agency (ACOA) has $70 million in funding to support eligible Atlantic Canada businesses and support organizations including not-for-profit organizations, community economic development partners, and Indigenous organizations and businesses, with projects that:
- support the transition to a green economy
- build an inclusive economy
- preserve Canada’s competitiveness and future-proof businesses through digital adoption
- strengthen capacity in sectors critical to Canada’s recovery and growth
Applications will be accepted on a continuous intake basis until the funding is fully allocated. For more information or to apply, please visit ACOA’s website and the Jobs and Growth Fund application guide.
“The pandemic recession has affected every corner of the country—New Brunswick, and all of Atlantic Canada, know that all too well. Our government’s recovery plan is an ambitious plan for jobs and growth that is precisely designed to heal the specific wounds of COVID-19 and build new economic muscle in all our communities, creating prosperity for us and for our children, for years to come. No community will be left behind and today’s event is about making sure growth and good jobs are created across the Atlantic region.”
- The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“By investing in our job creators and the organizations that support them, the Jobs and Growth Fund will help to create quality employment, pursue inclusive and clean growth opportunities, and lift up businesses and communities. The Government of Canada is committed to finishing the fight against COVID-19 and ensuring a resilient economic recovery that creates jobs and growth for all Canadians as Canada builds forward.”
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages
“As we move through this pandemic, our government’s goal is to ensure a resilient economic recovery. We are focused on strengthening Canada’s dynamic range of key sectors and investing in job creators to help them build resiliency and growth across Atlantic Canada.”
- Jenica Atwin, Member of Parliament for Fredericton
Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience is a plan to invest $101.4 billion to finish the fight against COVID-19 and ensure a robust economic recovery that brings all Canadians along.
Eligible businesses could receive interest-free repayable contributions for up to 50 percent of authorized costs.
Eligible not-for profit organizations could receive non-repayable contributions for up to 90 percent of authorized costs.
Indigenous-led organizations and/or businesses may be eligible to receive up to 100 percent of eligible project costs.
Through the Regional Relief and Recovery Fund, the Atlantic Canada Opportunities Agency and the network of Community Business Development Corporations have been helping businesses and organizations across Atlantic Canada to mitigate financial pressures caused by the pandemic.
Over $250 million was allocated through the Regional Relief and Recovery Fund in Atlantic Canada to help businesses pivot operations and to sustain employers for recovery.
Office of the Minister of Finance
Atlantic Canada Opportunities Agency
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