The plan, which came into effect April 1, draws from the $15 million Northern Development Fund — administered by the Ministry of Energy and Mines and Ministry Responsible for Northern Development — that was created as a result of the 1997 BC-Alcan Agreement.
"This business plan will stimulate the northern economy by providing funding for local programs and for business loans," said Miller. "Northern B.C. is an area of the province whose economic potential is still in the process of being realized, and the provincial government is committed to ensuring that our northern citizens are supported in their local development activities."
Highlights of the business plan include providing effective management services at a net cost of less than 10 per cent of program funds, and ensuring that communities in the Society’s investment area are regularly updated about Society business.
The grant program is currently operational, and the loan program is expected to be fully available to applicants in the next three or four months.
"We anticipate that demand for our programs will continue to grow and we hope that our $2 million will go a long way towards meeting development needs in our investment area," Society Chair Dave Merz said.
"Our new Business Plan emphasizes the importance of evaluating how we are doing. We are still relatively new and want to be sure that our programs are meeting needs and that our administration is working well," said Society Manager, Fiona Glass. "Evaluations will be conducted on an annual basis, before the end of each May."
The Nechako-Kitamaat Development Fund Society provides grants to legal organizations for projects which improve the basic facilities, equipment, services or installations needed for growth, jobs, community stability and quality of life; or for projects which improve capacity to generate economic development.
For more information, the Society Manager can be reached toll free at 1-877-478-3863.
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Contact: Fiona Glass, Manager
1 877 478 FUND (3863)
The Government of B.C. and Alcan Inc. each contributed $7.5 million to establish the Northern Development Fund in 1999. The investment income generated from this fund supports the NKDF grants program. Each partner has one representative serving on the board of directors. The NKDF is part of the portfolio of the Minister of Jobs, Trade and Technology.
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