BC Manufacturing Jobs Fund — Capital Investment
Highlights
This program is designed for you to modernize, innovate, and grow your manufacturing business. Up to $180 million is available to support projects across B.C., with a focus on communities affected by economic downturns. This funding can help you invest in new technology, upgrade equipment, or expand your facilities.
Why Apply?
- Significant Funding: Receive between $100,000 and $10 million for capital investments.
- Support for Planning: Up to $50,000 for final-stage business and project planning.
- Government-Backed: This program is backed by the government, ensuring stability and support.
Benefits for Your Business
- Boost Productivity: Invest in new machinery and technology to enhance your operations.
- Create Jobs: Generate long-term, well-paying jobs in your community.
- Leverage Additional Funding: Use this program to attract further investments and strengthen your financial position.
Applying is straightforward, with a two-step process to guide you through. This is a unique opportunity to secure substantial funding and drive your business forward.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment is required. This is a non-repayable grant.
Eligible Expenses:
- Capital Expenditures: Equipment, machinery, technology, and construction materials.
- Labor Costs: Wage or contract costs for net new and project-specific labor.
- Material Transportation: Costs associated with transporting materials.
- Installation and Implementation: Costs for setting up and implementing new systems or equipment.
Ineligible Expenses:
- Early research, concept development, and scoping activities.
- General operating expenses not directly tied to the project.
Fees:
- There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be registered to do business in B.C.
- Must operate in the manufacturing sector, creating products using industrial or mass production processes.
- Must have established operations at the proposed project location or elsewhere.
- Must have an established employee base.
Must be in a viable financial position, demonstrated by:
- Not being in foreclosure or for sale.
- Having a business plan and financial records showing current or projected growth, profits, and/or ability to pay off short-term debts.
Disqualifications:
- Businesses not registered to do business in B.C.
- Businesses not operating in the manufacturing sector.
- Businesses without established operations.
- Businesses without an established employee base.
- Businesses in foreclosure or for sale.
- Businesses without a business plan or financial records showing viability.
Description
The BC Manufacturing Jobs Fund is a great opportunity for your business to modernize, innovate, and grow. This program offers up to $180 million in funding for manufacturing projects across British Columbia. It focuses on communities affected by economic downturns, with a special emphasis on the forestry sector.
You can use this funding for various capital projects, including new or renovated infrastructure, technology, equipment, and processes. For example, you could build or expand a manufacturing facility, upgrade machinery, or adopt innovative processes to create value-added products. The program supports two funding streams: Project Readiness, with up to $50,000 for planning, and Capital Investment, offering between $100,000 and $10 million for larger projects.
The funding aims to boost productivity, create long-term jobs, and strengthen supply chains. It also encourages clean, inclusive growth and economic resilience, particularly in regional and Indigenous communities. By participating, your business can leverage other funding sources and attract more investment into B.C. This is a valuable chance to enhance your operations and contribute to sustainable economic development.
Program Steps
Register for a Business BCeID: If you do not already have one, register for a Business BCeID. This may take a few business days to complete.
Prepare Documentation: Gather the necessary documents for your application. These include:
- Business financial statements
- Business plan
- Project plans
- Quotes for equipment or renovation costs
- Details of other potential and secured funding sources
Submit an Online Proposal Form: Log in with your Business BCeID and complete the online Project Proposal form for the stream you are applying for:
- Stream 1 - Planning Proposal Form
- Stream 2 - Capital Investment Proposal Form
Save Your Progress: Save your progress often (every 10-15 minutes) while filling out the online form. You can save and return to the form at any time.
Review and Submit: Review your responses and submit the completed proposal form. Ensure all required information is accurate and complete.
Await Contact: Program staff will review your proposal and contact you within four weeks about the next steps.
Complete Detailed Application: If selected to move on to Step 2, complete the detailed application form. Submit additional information and documentation such as business financials and project plans.
Funding Decision: Your application will be assessed for alignment with program goals, economic impact, and project viability. Projects that pass the assessment process will be reviewed for funding decisions.
Initiate Project: If approved, initiate your project within one year. Funding will be paid out in installments based on milestones achieved.
Contact for Assistance: If you have questions or need guidance, contact the program team at [email protected].