Jobs and Growth Fund (JGF)

By mmuise
Description:

The Jobs and Growth Fund (JGF) provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.


Comments on Funding:

Funding will take the form of:
- interest-free repayable contributions for up to 50% of eligible costs for eligible businesses;
- non-repayable contributions for up to 90% of eligible costs for not-for profit organizations.
Indigenous-led organizations and/or businesses are strongly encouraged to apply. Under the initiative, RDAs may contribute up to 100% of eligible project costs for projects with Indigenous clients.

Deadline: Continuous Intake
Eligibility:

Applicants must be:

  • businesses, including co-operatives,
  • not-for-profit organizations and community economic development partners.

    Among the program's eligible activities are activities that foster an inclusive recovery, including those that support businesses owned or majority-led by under-represented groups, such as Indigenous peoples, members of racialized communities, women, youth, LGBTQ2, persons with disabilities, newcomers to Canada, and members of official language minority communities.
Application Steps:

Applicants must:

1. consult the applicant guide;

2. fill out the Jobs and Growth Fund application form online;

3. send the form through the application for financial assistance page (https://www.canada.ca/e tlantic-canada-opportunities/services/application-for-financial-assistance.html) or by mail to the ACOA regional office in your province.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:
1. incorporation documents and information on ownership (names and percentage of ownership), 2. financial statements (current and last two years),
3. research and development (r&d) project plan, business plan and/or marketing plan,
4. supplier quotes,
5. copies of relevant permits and licences, 6. other relevant documents (specify).
Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:
1. constituting / incorporating documents and list of directors/members of the board,
2. financial statements (current and last fiscal year),
3. description and mandate of the applicant, including the management and qualifications of key personnel,
4. HST rebate information (I.E. rebate rate), 5. one of the following two items is required: research and development (r&d) project plan or detailed project description, including milestones, costs, financing, key partnerships established and evidence of support from the community,
6. supplier quotes, 7. copies of relevant permits and licences,
8. other relevant documents (specify).

Other Things to Note:

1. The JGF will provide $700 million over three years (2021-2022 to 2023-2024) across Canada to support business financing. This support for regional recovery and stimulus will position local economies for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
2. Applications will be accepted on a continuous intake basis until such time as the funding is fully allocated.
2. The fund, delivered by Canada's regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.
3. In Atlantic Canada, the Atlantic Canada Opportunities Agency (ACOA) is investing $70 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
4. Date modified: 2023-09-19

About the author
mmuise