Coast Opportunity Funds – Economic Development Fund
The Economic Development Fund is a short-term fund for eligible First Nations designed to create sustainable businesses and community-based employment opportunities over seven years. The Fund supports environmentally sound and sustainable economic development activities and priority will be given to projects that have positive environmental or social impacts, direct or indirect. Some examples of eligible businesses include: Shellfish aquaculture; fisheries; technology and communications; tourism, including wildlife viewing; nutriceuticals; mushroom harvesting; non-timber forest products; and ecosystem-based management compliant forestry operations.
604-684-0223
info@coastfunds.ca
Coast Opportunity Funds oversees and manages $116 million provided by the Province of British Columbia, the Government of Canada, and six private foundations, in two funds:
• The Conservation Fund, a long-term fund designed to support activities that maintain or improve the Great Bear Rainforest.
• The Economic Development Fund, a shorter-term fund designed to create sustainable businesses and community-based employment opportunities over seven years.
The goals for Participating First Nations include:
• Increasing capacity to realize sustainable economic development opportunities, including increased access to skills development and training
• Increasing capacity to realize sustainable economic diversification opportunities
• Enhancing the economic infrastructure of the North and Central B.C. Coast to support First Nations businesses within the Project Area
• Growing their economic share of commercial activities, such as shellfish aquaculture, tourism, and cultural products
• Increasing the number of businesses owned by First Nations communities or individuals living in the Project Area
Economic Development• Leveraging increased investment in sustainable business partnerships
• Contributing towards a stable or increasing population in the Project Area
• Increasing participation in, and contributions towards, the provincial economy
• Improving employment levels and decreasing unemployment rates
• Increasing average annual incomes.
Eligible projects
The Economic Development Fund supports environmentally sound and sustainable economic development activities by Participating First Nations. Priority will be given to projects that have positive environmental or social impacts, direct or indirect.
Examples of eligible businesses include:
• Shellfish aquaculture
• Fisheries
• Technology and communications
• Tourism, including cruises and wildlife viewing
• Wildlife viewing
• Nutriceuticals
• Mushroom harvesting
• Non-timber forest products
• Ecosystem-based management compliant forestry operations
• Non-nuclear and non-carbon burning energy projects
• Green building projects
• Small-scale, non-toxic, subsurface rock, mineral or gem extraction
• Economic development capital corporations utilizing funding standards consistent with those of the Economic Development Fund.
Up to $100,000 per First Nation.
Must be a participating First Nation.
