B.C. doubles the amount of money available through new rural development fund
The provincial government doubled funding for a economic diversification fund it created mere months ago, and after not meeting the demands of a similar fund created by the previous government.
The provincial government first announced REDIP on Nov. 15, with an initial budget of $33 million to promote economic diversification, clean-economy opportunities and infrastructure in rural B.C.This top-up announcement comes less than two weeks after Bailey had announced $10 million for the Island Coastal Economic Trust pending legislative changes in the fall of 2023.
According to its 2021-22 annual report, communities have directly attracted more than $300 million in new investment by leveraging $55 million in ICET funding since its inception.
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