Funding program improvements

We are looking for input to help determine the funding program structure that best supports departmental clients and assists in the development of the Yukon economy.

We are seeking comments on potential improvements to the following three funding programs, which includes a proposal to combine them into a single funding program to support a broader range of economic development activities in Yukon: Regional Economic Development Fund; Strategic Industries Development Fund; and Enterprise Trade Fund.

Regional Economic Development Fund (2018/19 Budget: $800,000)

• Provides funding to facilitate organizational capacity development and facilitate regional economic development planning.
• The fund is open to municipal and First Nations governments, Yukon First Nation development corporations, community associations, local governing bodies, area advisory committees, and Yukon businesses and business-related organizations whether for profit or not for profit.

Strategic Industries Development Fund (2018/19 Budget: $800,000)

• Provides funding to identify, pursue and facilitate the development of strategic industries, projects, and economic infrastructure; facilitate maximization of secondary benefits from strategic projects; and increase awareness of and investment in strategic industries and strategic projects.
• The fund is open to businesses registered in Yukon and carrying out business activity in Yukon, Yukon First Nation development agencies structured as a corporation or a trust, and for profit or not-for-profit business-related organizations. Not-for-profits must be registered under the Societies Act and in good standing, or created under another legislated authority.

Enterprise Trade Fund (2018/19 Budget: $360,000)

• Provides funding to open up new markets or significantly expand existing markets, particularly export markets; and support the development of Yukon businesses.
• The fund is open to Yukon businesses and business-related organizations either for profit or not for profit.

Improvements to the funding programs should:

• expand the range of projects funded;
• improve the flexibility of the funding program criteria;
• improve the flexibility in applicant eligibility;
• support emerging opportunities for innovation and entrepreneurship;
• support economic diversification;
• respond to evolving economic conditions;
• respond to current government priorities and mandate; and
• consolidate departmental funding decisions within one, equitable policy framework.

The Community Development Fund will not be affected and is not part of this engagement.

There is no intent at this point in time to request an increase to the overall budget for these programs.

Funding program improvements would be developed under the following guiding principles:

• Flexible project parameters;
• Equitable eligibility;
• Efficient intakes and processing; and
• Transparent processes.