British Columbia to receive $125.2 million in support through new Community Adjustment Fund

May 16, 2009

Ralph Stewart, Edgewater, and Ken Mitchell, Invermere, were involved with the local crew that rebuilt the bridge approaches and trail guard rails.

Canadian workers, families and businesses in communities throughout Kootenay Columbia that are hardest hit by the global recession will be able to pursue new economic opportunities thanks to the Community Adjustment Fund, a major job-creating investment contained in the Harper Government’s Economic Action Plan.  The global recession has severely affected many individuals and families, especially in communities like ours that depend on single industries such as forestry

The Community Adjustment Fund will inject new money as quickly as possible into communities in Kootenay Columbia in order to create jobs and support economic renewal in the areas that are hardest hit.  The fund will deliver a total of $1 billion over two years to local economies throughout Canada. British Columbia’s share of this funding will be $125.2 million.  Projects to be funded could include reforestation activities, property redevelopment, and innovative programs to help communities take advantage of new business opportunities. To be eligible for funding under this initiative, projects must meet the following criteria:

• They can start quickly
• They can be completed within the two-year timeframe of the Community Adjustment Fund with no obligation for continued spending
• They are incremental

Priority will be given to projects that:

• Generate immediate employment
• Create the most near-term employment per dollar of federal investment
• Leverage funds from provinces, territories and other funding partners
• Build on partnership arrangements already in place and existing programs
• Provide a legacy of longer-term ecological and/or economic benefits.
  

A community will be eligible under this initiative if its population is 250,000 or less and if it meets the following other criteria:

• It has experienced major layoffs resulting in significant job losses as a percentage of total employment within the community; and
• There is a lack of alternative employment opportunities within the community to offset job losses..or..
• The year-over-year increase in Employment Insurance beneficiaries is equal to or greater than 20 percent.
  

Priority in the selection of projects in eligible communities will be given to rural, single-industry communities.

For more information on the CAF application process, visit:

Western Economic Diversification Canada:

www.wd-deo.gc.ca / 1-888-338-9378