Small businesses in Northern B.C. to benefit to the tune of $1.1 million

From K-J Millar The Northern View

 

Small businesses in Northern British Columbia will benefit to the tune of $1.1 million in grant funding committed by Northern Development.

“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,” Hon. Michelle Mungal, minister of jobs, economic development and competitiveness said.

Northern Development has committed $600,000 to the Competitive Consulting Rebate (CCR) and $500,000 to the North industries Innovation Fund (NIIF). These two programs directly support small and medium size businesses in central and northern B.C. that implement projects to create measurable economic benefit for the regions.

The funding will allow for the continuation of these programs to be a success. The outcome then will be the allowance of small businesses in central and northern B.C. to grow, thus become more competitive, create new jobs and strengthen local economics.

“This funding will support economic development in Northern B.C. It provides greater opportunity for small and medium size companies to be innovative and grow as they support our mining and energy sectors, ” Hon. Bruce Ralston, minister of energy, mines, and petroleum resources, said.

NIIF funding is to support applied research and development improved products and services, and testing of innovative equipment or technologies in the forestry, agriculture, aquaculture, mining, energy, manufacturing, and oil and gas sectors.

CCR funding is for small to medium sized businesses engaged in manufacturing, innovative technologies, resource processing, transportation, distribution.

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

 

Read more…

Image: Northern Development Initiative is donating $1.1 million to fund small to medium businesses in Northern B.C. in forestry, agriculture, mining, energy, oil and gas, and manufacturing. (Photo supplied by Northern Development Initiative)

Related Post

October 26, 2023

 Province increases funding for community forest wildfire risk reduction

News Release We are pleased to announce that the

February 15, 2023

BC introduces new measures on old growth, innovation, forest stewardship

New announcement on process and funding for policy reforms