May 3, 2021
The City’s latest action for supporting local business and diversifying Edmonton’s economy is set to begin, following the approval of the Edmonton Economic Action Plan Grant at Council today. The Edmonton business community will be able to access matching funds through the Grant starting in early June.
This grant represents the second phase of a two-part approach to the City’s ongoing work to support economic recovery and ensure businesses survive and thrive. The first phase of the grant supported the most immediate needs of Edmonton businesses impacted by COVID-19. The second phase is aimed at supporting diversification in the local economy to expand a range of products or services to reach new markets, and long term resiliency to increase the ability of local businesses to adapt to changing economic conditions.
“This phase of the program supports the longer term recovery efforts of Edmonton businesses for projects geared to helping businesses create jobs,” said Stephanie McCabe, Deputy City Manager, Urban Form and Corporate Strategic Development. “Phase 2 is about looking ahead and being proactive, not reactive. Incentivizing projects that support specific actions will provide the greatest return on investment based on their potential to grow the local economy.”
There are a range of eligible projects that could be supported - from initiatives that reduce barriers to employment, to new business opportunities for marginalized communities, to supporting the opening of new child care care facilities.
Grants up to $25,000 will be available and could support a minimum of 83 projects. Recipients of Phase 1 funding are eligible for Phase 2 funding for a new project..
The grant program is part of the City’s ongoing work to support Edmonton's economic recovery, contribute to the community’s vitality and prosperity and drive local job creation. Phase I (June 15 2020 - April 6, 2021) provided $1,128,000 to 1,100 individual businesses in the industries of accommodation or food service, small retail, health care and social assistance, and arts, entertainment and recreation to help reopen or pivot their business models as a result of COVID-19, and $509,600 to 10 business associations that supported business recovery and local economic development.
Full details about eligibility, including the core criteria and required documents to apply, will be available at edmonton.ca/businessgrants
soon. Online applications for the Economic Action Plan Grant will begin in June.