NEW WESTMINSTER, B.C. - Canadian workers, families and businesses in communities that are hardest hit by the global recession will be able to pursue new economic opportunities in their communities thanks to the Community Adjustment Fund, a major job-creating investment contained in the Harper Government's Economic Action Plan.
"The global recession has severely affected many individuals and families, especially in communities that depend on single industries such as forestry," said the Honourable Lisa Raitt, Minister of Natural Resources. "The Community Adjustment Fund will inject new money as quickly as possible into communities across Canada in order to create jobs and support economic renewal in the communities that are hardest hit."
The Community Adjustment Fund will deliver a total of $1 billion over two years to local economies throughout Canada. While in New Westminster, Minister Raitt announced that British Columbia's share of this funding will be $125.2 million.
"This is an exciting initiative that will create jobs and provide economic stimulus across the province of British Columbia," said the Honourable Stockwell Day, Minister of International Trade. "The economic strength of individual communities is vital to the resilience of BC's economy as well as Canada's long-term performance. Funding under the Community Adjustment Fund will stimulate local economies during this global economic downturn and create a legacy for future generations."
Projects to be funded could include reforestation activities, investments in machinery or equipment, demonstration of new mining technologies and initiatives to improve market access for products.
The Community Adjustment Fund will also build on the ongoing work of existing federal programs and initiatives, such as the $1-billion Community Development Trust, the $170-million fund for forest products market diversification and innovation, and various programs delivered by Canada's regional development agencies.
Individuals interested in learning how to apply for funding under the Community Adjustment Fund are encouraged to contact their local Regional Development Authority. For more information on the Community Adjustment Fund application process, visit:
For more information on the Canada Economic Action Plan, visit www.actionplan.gc.ca.
The Government of Canada is providing immediate economic stimulus to communities hit hardest by the global recession. The new, $1-billion Community Adjustment Fund, part of the federal government's Economic Action Plan, includes $125.2 million for B.C. and will help create jobs and maintain employment in communities across Canada.
Media may contact:
Jasmine MacDonnell
Director of Communications
Office of the Minister
Natural Resources Canada
Ottawa
613-996-2007
Media Relations
Natural Resources Canada
Ottawa
613-992-4447
The following media backgrounder is available at www.nrcan.gc.ca/media:
- Community Adjustment Fund
NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.
