Northern Development commits $1.1 million to support business recovery and innovation in Northern B.C.

January 30, 2020
PRINCE GEORGE – Northern Development today announced its continued support of small businesses in Northern B.C. by committing $1.1 million in grant funding for 2020.

The Competitiveness Consulting Rebate (CCR), along with the Northern Industries Innovation Fund (NIIF), are programs that directly support businesses in Central and Northern B.C that implement projects to create measurable economic benefit for the region.

Northern Development has committed $600,000 to the CCR program and $500,000 to the NIIF program.

Competitiveness Consulting Rebate

The Competitiveness Consulting Rebate program provides a rebate to small and medium sized businesses engaged in manufacturing, innovative technologies, resource processing, transportation, distribution and their first line suppliers for customized outsourced consulting services.

These program funds can also be used for the Forestry Affected Businesses (FAB) Consulting Rebate, which assists businesses in communities affected by permanent mill closures or curtailments. This program was introduced in 2019 and will be extended through 2020.

Northern Industries Innovation Fund

The Northern Industries Innovation Fund program provides funding for small and medium sized companies engaged in forestry, agriculture, aquaculture, mining, energy, oil and gas, manufacturing and activities related to these sectors. The program will support applied research and development, new or improved products and services and testing of innovative equipment or technologies to support capital investment decisions.

The program is also intended to support economic diversification and/or viability of businesses to mitigate the economic impact of the pine beetle epidemic.

Read how Lo-Bar Log Transport received a $50,000 grant from NIIF to conduct an eight-month trial period to see if the practice of commercial tree thinning was viable for their business.

Eligible companies can apply for either program on an on-going basis. For more information, please contact Felicia Magee, Director of Business Development by phone (250-561-2525) or email (felicia@northerndevelopment.bc.ca).

QUOTES:

Hon. Bruce Ralston, Minister of Energy, Mines, and Petroleum Resources
“This funding will support economic development in Northern B.C. It provides greater opportunity for small and medium-sized companies to be innovative and grow as they support our mining and energy sectors.”

Hon. Michelle Mungall, Minister of Jobs, Economic Development and Competitiveness 
“Central and Northern B.C. are crucial to the economic well-being of our entire province, and support for innovation is key to ensuring long-term prosperity in our resource industries. The continuation of these successful programs will help allow more small businesses in central and northern B.C. to grow, become more competitive, create new jobs and strengthen local economies.”

Joel McKay, CEO of Northern Development Initiative Trust
“Northern B.C.’s economy has taken a hit this past year with mill closures and curtailments. However, the people who live and work here are resilient and capable. Northern Development is eager to support those businesses in our region that seek out innovative opportunities in order to grow our economy and improve life in the north.”

 

Media Contact
Holly Plato
Director, Communications and Marketing
Northern Development Initiative Trust
hollyp@northerndevelopment.bc.ca
250-561-2525