Funding for the next intake of the Rural Economic Diversification and Infrastructure Program (REDIP) is jumping to $66 million based on the quality of applications received to date.
Brenda Bailey, minister of jobs, economic development and innovation, said there were 267 applications in the first round alone and emphasized the government wants to support this strong response, which is why funding was increased for the second round. To date, 20 projects have been funded in the Cariboo for a total of $6.1 million since the start of the program in November 2022.
A second way the government is trying to provide funding for regional economic development is through the Manufacturing Jobs fund. The $180 million fund is for the private sector, unlike REDIP, which is for non-profit, local government and First Nations government.
“It’s a manufacturing fund but it is about creating high quality, high paying jobs through long-term development in the community. A region is healthy if you can live and work in your region and support your family, which is the goal of this fund,” Bailey said.
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