BC Manufacturing Jobs Fund: Capital Investment
$10,000,000
Grant
Description:
The BC Manufacturing Jobs Fund (BCMJF) is helping manufacturing companies modernize, innovate, and grow by providing funding for capital projects in all regions in B.C., particularly in communities affected by economic impacts or downturns.
The program welcomes applications from all manufacturing sectors. There is a particular focus on helping the forestry sector retrofit and develop new, sustainable value-added business lines that reduce dependency on old growth logging and make innovative use of biomaterials.
Comments on Funding:
Funding to invest in new or renovated manufacturing infrastructure, technology, equipment, and processes, including renovating idle industrial buildings such as an unused mill site.
Funding Amount
Minimum: $100,000
Maximum: $10,000,000
Total eligible project costs should be approximately $500,000 up to $100 million
Up to 20% of total eligible project costs
Funding Details
Projects should be initiated within one year
Funding will be paid out in installments based on milestones achieved
Applicants will be asked to submit project documentation that outlines the project budget, other potential and secured funding sources, and demonstrates project viability
Examples
Build or expand a manufacturing facility
Upgrade equipment or machinery to support new product lines
Adopt innovative processes to manufacture value-added forestry products from biomass or other alternatives
Retrofit a processing facility to expand or adopt new technology and processes
Improve processes for fabrication
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Eligible capital projects must be:
Businesses
For-profit organizations
Entities with for-profit manufacturing operations, including First Nations and Indigenous- and First Nation-owned enterprises
Be located in B.C.
Contribute to long-term regional economic growth, sustainability and/or diversity
Be financially viable and leverage market demand
Create, maintain or diversify job opportunities for local workers
Have a high degree of readiness and bring direct benefits to communities
Demonstrate alignment with program goals
Application Steps:
Applicants must:
1. submit an online project proposal for the Project Readiness stream they are applying with;
2. submit a detailed application;
3. be notified of the funding decision.
Documentation Needed:
Supplementary Materials:
You will be asked to submit supplementary materials
applicable to your project and funding stream (if they were
not provided with your initial project proposal) which may
include:
• Previous years’ business financial statements from the
past three years, including a balance sheet, income
statement, and statement of cash flow
• Projects with funding requests of $1,000,000 or more
will also be asked to provide detailed projections
demonstrating five years of projected revenues
• Detailed project budget including quotes or estimates
and confirmation of other funding sources
• Business plans and/or more detailed information about
the project including market assessment, workforce
planning, access to materials
• Design plans, architectural and engineering reports,
environmental assessments
• Planning documentation, including feasibility studies,
pilot/demonstration reports, and other pre-work that
has taken place
• Proof of partnerships and endorsements, including
community and First Nations letters of support, as
relevant
• Depending on the size of your business, we may
also ask for additional resources such as Diversity,
Equity, and Inclusion policies, Indigenous employee
recruitment and training plans, and other materials
Other Things to Note:
Ineligible Costs
> Costs not directly related to the project
> Costs for which the recipient is eligible for a rebate from government sources, including taxes
> Early research, concept development, scoping and feasibility studies, including basic and applied
Research and Development (Technology Readiness Level 1-7)
> Extraordinary or abnormal fees beyond customary market rates
> Entertainment and marketing costs
> Operating costs (e.g., core staff salaries, bonuses, repayment loans, cost-share obligations or
refinancing of debts, fines or penalties, membership fees, dues, taxes, depreciation of assets, etc.)
> Cost related to the development of BCMJF application
> Acquisition of land and existing buildings (except for First Nations and Indigenous or First Nationowned enterprises acquiring or buying into an existing manufacturing operation)
About the author
Maurice
