April 23, 2018
April 23, 2018 – Prince George | Northern Development Initiative Trust puts communities in the driver’s seat and funds their economic development priorities
As part of its goal to support community-identified strategic priorities, Northern Development Initiative Trust approved $1.27 million in funding for five economic development projects throughout Northern B.C., thanks to the Strategic Initiatives Fund.
The Strategic Initiatives Fund (SIF) was launched in January of this year and was designed to put communities in the driver’s seat and propose projects that are strategic in nature and support long-term economic transformation and sustainability.
The program is designed to be broad in nature, allowing flexibility for proposals that capitalize on the diverse opportunities and strengths that exist in communities throughout Northern Development’s service area.
At their April 18th meeting, Northern Development’s board of directors approved funding for the following projects:
The competitive review of proposals indicated that the supported projects provided a strategic response to a specific economic development objective, opportunity or challenge.
70% of the approved funding is for projects with direct or transferrable benefits that will mitigate the impacts of the Mountain Pine Beetle on the Northern B.C. economy.
Gerry Thiessen, chair, Northern Development Initiative Trust
“Communities throughout Northern B.C. have been looking for funding opportunities to respond to unique challenges and opportunities identified at the local level. Northern Development heard this request and the board couldn’t be more pleased than to support these projects identified as strategic priorities for local economic development and sustainability.”
Joel McKay, CEO, Northern Development Initiative Trust
“These grants are helping the region develop communities, industries, skills and economic growth strategies. This program recognizes the diverse needs of individual communities throughout Northern B.C. and it’s wonderful to see these dollars at work to support projects that communities have identified as being local and regional priorities.”
About the Strategic Initiatives Fund
The Strategic Initiatives Fund is available on an annual intake for local governments, registered First Nations bands and partnerships with non-profit corporations or private sector businesses where a local government or registered First Nation band is the lead applicant. The program supports up to 80% of a project’s value. The program allows Northern Development to support strategic projects that may not otherwise fit into its suite of programs, but that are large in scale, regional in impact, enhance a community or multiple communities’ ability to overcome economic challenges and will result in incremental capacity or strategic economic infrastructure within a municipality or First Nation.
About Northern Development
Northern Development has a passion for growing the economy of central and northern British Columbia. Communities, First Nations and businesses of the north are leaders in creating jobs, new revenues and improving the quality of life in the region, and the Trust is dedicated to supporting their growth. The Trust combines funding with smart thinking and since 2005 has found more than 3,100 ways to say “yes” to projects that help the region thrive.