Up to $50,000 available under Business Grants Program – Canada

The Town of Peace River is committed to supporting business development and investments that create jobs, stimulate the local economy and expand a diversified tax base. The Business Grants Program provides financial assistance through grants designed to stimulate business development, building activity and continued local employment.

The program encourages reinvestment in buildings and property throughout the Town, and the development and expansion of tourism-based products and services. $50,000 is allocated to the Business Grant Program in 2024.

Categories

• Business Revitalization Grant
  • The Business Revitalization Grant applies to improvement expenses related to the exterior of the building or property for business expansion or revitalization.
  • Need to Know
    • A property is eligible for grant funding once every 5 years for similar projects.
    • A project must have a minimum total value of $5,000 of eligible costs to qualify.
    • No work can be performed until the grant application has been approved.
    • Required permits (e.g. development permits) must be obtained before the project begins.
    • Any project contractor must have a Town business license for the expense to be eligible.
    • Successful applicants must acknowledge the Town in promotional materials.
  • Grant Amount
    • Minimum: $2,500, Maximum: $25,000.
    • Up to 50% of the total project cost for the first $5,000 in costs.
    • Up to 25% of the remaining total project cost up to the maximum grant amount.
    • Projects must be completed six months from approval.
  • Eligibility Criteria 
    • The applicant must:
      • Be the property owner or have the property owner‘s written authorization;
      • Submit a complete application for an eligible project; and
      • Meet any additional application requirements as specified by the EDC review committee.
    • The affected business shall not be a corporate outlet but may be a locally owned franchise.
• Tourism Enhancement Grant
  • The Tourism Enhancement Grant applies to:
    • Any individual or business located within the Town that is developing or expanding a new tourism-based product or a new tourism-based experience.
    • Any individual applying to install Community Services signs or Tourist Attraction signs through the “All Sign Up Alberta” sign program.
  • Need to Know 
    • No work can be performed until the grant application has been approved.
    • Required permits (e.g. development permits) must be obtained before work begins.
    • Any project contractor must have a Town business license for the expense to be eligible.
    • Events are not eligible for the grant.
  • Grant Amount 
    • Minimum: $2,000, Maximum: $5,000
    • Projects must be completed six months from approval.
  • Eligibility Criteria
    • The applicant must:
      • Submit a complete application form for an eligible project.
      • The product or experience must:
        • Diversify the tourism offerings of the Town;
        • Draw visitors to the community; and,
        • Be feasible.

For more information, visit Town of Peace River.