The Economic Development Fund comprises $58 million to support eligible sustainable businesses and community-based employment opportunities in the Project Area, consistent with goals of conservation. Its 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
• 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.
Funding of projects is made from the capital, and the entire Fund is expected to be utilized by 2014.
For more information on eligible projects see How to apply: Economic Development Fund