The Community Adjustment Fund program was offered by Northern Development on behalf of the Government of Canada in 2009 and 2010 in order to support communities in northern BC that were adversely affected by the economic downturn, helping to reduce short-term impacts by creating immediate employment through projects that would also provide positive long-term economic benefits
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The Community Adjustment Fund was provided by Northern Development in central and northern British Columbia through a $30 million funding delivery contract with the Government of Canada to support economic stimulus in the region. This included $10 million in grant money for communities and non-profit organizations, and $20 million in five year loans to businesses. The program resulted in 1,302 jobs immediately created in Northern Development’s region. Program funding flowed into the region until March of 2011.
Across Canada, the Economic Action Plan provided a total of $1 billion over two years to communities, including $306-million across Western Canada under the Community Adjustment Fund (CAF). The fund helped reduce the short-term impacts of restructuring in communities across Canada heavily reliant on resource-based industries, including forestry, mining, agriculture, and fisheries, as well as communities that depended on the manufacturing sector.
Additional information on the Community Adjustment Fund is available from the following 2009 media releases:
- August 11, 2009 – $30 Million Federal Investment In Central and Northern BC
- August 11, 2009 – Government of Canada Works With Northern Development Initiative Trust to Invest in Over 1,100 Northern British Columbia Jobs
|Approved Project Investments||32 Projects|
|Total NDIT Funding Invested||$29,602,349|
|Total Investment Attracted to Region||$ 48,487,306|
|Total Direct Job Creation||1,302 Person Years of Employment|
|Communities||18 Communities, 3 Regional Districts
and 6 First Nations