Rural Economy Fund
The Rural Economy Fund (REF) recognizes the important contribution rural communities make to New Brunswick’s economy, and the unique challenges they face in becoming prosperous.
The REF aims to help rural regions in strengthening and growing local economies by supporting local, and/or regional priority initiatives in the following categories:
Offered by Regional Development Corporation (RDC)
Amount
Non-repayable financial contribution of up to 40% of provincial contribution towards eligible expenditures (maximum of 50% under extenuating circumstances) to non-profits, municipalities, Regional Service Commissions and First Nations; up to 20% (exceptions up to 35%) in all other projects; maximum contribution under this fund is $1,000,000
Quick eligibility check
Who can apply
The REF is available to:
- Incorporated Legal entities such as a not-for-profits, municipalities, Regional
Service Commissions and First Nations.
- The applicant must be from an Eligible Rural Area (any incorporated
municipality or local government that has a population of less than 25,000 inhabitants as of the most recent Canadian Census).
RDC may consider non-repayable requests from for-profit organizations under the following circumstances:
- The for-profit organization qualifies under federal-provincial agreements
requiring a provincial contribution.
- 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).
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Cranberry Industry Development Program | Grant | Flat rate of $10,000 per acre, to a maximum of five acres, for bed renovation or new bed construction. 50% of the eligible costs of rooted plugs, to a maximum of $9,000 CAD per acre for up to five acres. 50% of the eligible cost of non-rooted cuttings, to a maximum of $5,000 CAD per acre for up to five acres. 50% of eligible costs, to a maximum of $30,000 per applicant, for equipment and technology and for pond expansion. Maximum contribution of $50,000 per applicant per year. | Open |
| Poultry and Egg On-Farm Investment Program | Grant | Non-repayable contributions of up to 70% of eligible project costs (up to 85% for young producers), limited to each producer's maximum funding amount based on their share of provincial quota/production | Open |
| Apple Industry Development Program | Grant | Element A: up to $11 per supported tree (with a permanent support stake), up to $15 per trellis supported tree and up to $5 per top grafted tree | Open |
| Beef Herd Renewal and Improvement Program | Grant | Up to $5,000 | Open |
