Total Development Fund

By mmuise
Description:

The Total Development Fund (TDF) supports provincial priorities as well as sector/industry-wide initiatives that optimize development, improve productivity, accelerate growth, and/or enhance competitiveness across key sectors/industries. Projects supported with this fund must be linked to a regional or government priority and/or a departmental strategy and be able to demonstrate an economic benefit to the applied sector/industry or to the province.


Comments on Funding:

Funding takes the form of a nonrepayable contributions at the following levels:
- up to 100% to provincial government departments in support of strategic initiatives that have sector-wide impact;
- up to 50 % provincial contribution toward eligible expenditures to non-profit, municipalities, Regional Service Commissions and First Nation governments;
- up to 20 % provincial contribution (with exceptions up to 35% under extenuating circumstances) toward eligible expenditures in all other projects.

Funding commitments for individual initiatives will not exceed 3 fiscal years.

Deadline: Continuous Intake
Eligibility:

Applicants must be:

  • Incorporated Legal entity such as a not-for-profit or for profit, municipalities, Regional Service Commissions, First Nations;
  • Post-secondary and research Institutions;
  • Provincial government departments and crown corporations.
  • RDC may consider non-repayable requests from for-profit organizations under the following circumstances:
    a) The for-profit organization qualifies under federal-provincial agreements requiring a provincial contribution;
    b) The project is a key sector, regional or provincial priority as identified and supported by the appropriate GNB Department or Agency; examples: strategic economic or tourism infrastructure requests that will increase development and/or competitiveness, pre-commercialization projects, or market development initiatives.
Application Steps:

1. Applicants must submit proposals for funding directly to the Regional Development Corporation;

2. If applicable, RDC will obtain a sector review from the appropriate department when receiving a request directly from the client;

3. Where a submission is deemed sufficiently detailed and in accordance with the eligibility requirements, RDC will review for consideration.

Documentation Needed:

Applicants must:
1. complete, sign and forward a claim form including copies of all pertinent
documentation relating to the project for reimbursement of expenditures.
2. submit appropriate documentation to support all investments made under the Total Development Fund. Supporting documentation may be in the form of:
a) outcome report including metrics;
b) financial report;
c) audited financial statements;
d) invoices:
e) proof of payments;
f) legal agreements; and/or
g) any other necessary documentation.

Other Things to Note:

All funding applications under the TDF will be received, assessed, and evaluated by the Regional Development Corporation. The President of the Regional Development Corporation will have authority to approve funding for projects.

About the author
mmuise