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By Chris Brown

Boosting business

Western Canada businesses get $95M in federal support

Jul 28, 2020 | 3:14 PM

OTTAWA – Alberta businesses have benefitted from $95 million in federal funding to support businesses of all sizes across Western Canada.

Melanie Joly, the Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada, said Tuesday that the funding boost has supported more than 1,760 businesses across the West that were unable to get access to existing Government of Canada relief measures.

The money comes from the Regional Relief and Recovery Fund launched in May, and is being delivered by Western Economic Diversification Canada.

“Businesses in Western Canada have felt the impact of COVID-19 first-hand. This is why we are working with entrepreneurs to rebuild our economy and help get Canadians back to work. With this money coming their way we are protecting over 6,800 jobs from Winnipeg to Victoria,” said Joly in a release.

In southern Alberta, the Medicine Hat Community Futures office approved 33 applications for a total of $921,800. The Lethbridge office approved 31 applications for a total of $1,136,770, and the Taber office approved 25 applications for a total of $980,000.

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Of the money announced today, $55.3 million went to main street businesses and small- and medium-sized enterprises in Stream 1. It provided up to $40,000 for 1,672 projects.

More than 900 Alberta businesses are sharing in $30 million in funding.

Other provinces in Stream 1:

• 599 projects in B.C., $19,959,551
• 92 projects in Saskatchewan, $3,013,284
• 60 projects in Manitoba, $1,866,653

As well, $39.8 million went to 95 projects in the broader business sector. Money for Alberta accounts for 45 of those projects and nearly $18 million.

Other provinces in Stream 2:

• 22 projects in Saskatchewan, $9,364,514
• 14 projects in Manitoba, $5,324,813
• 14 projects in British Columbia, $7,237,997

The funding includes $50.3 million to support very small businesses (those with fewer than five employees), $41.6 million to support small businesses (5 to 99 employees) and $3.1 million to help medium businesses (100 or more employees).