Job Creation Incentive Program: 2016 Alberta Business Grants
Earlier this month, the Alberta provincial government unveiled a new 2-year, $178-million Alberta government grants program called the Job Creation Incentive Program. Alberta Premier Rachel Rotley’s government started off the press conference by expressing their hope for an economy less dependent on oil due to plummeting oil prices and shifting contracts. The Job Creation Incentive Program intends to diversify job creation across business sectors by contributing grant funding directly to businesses for each job created. Alberta small business grants through this program are expected to create anywhere from 18,000-27,000 new jobs each year during both 2016 and 2017.
Job Creation Incentive Program: Alberta Government Grants for Small Business
This new funding for small business job creation is set to launch in spring 2016 according to the Alberta government’s website. What has been announced so far is:
- Up to $5,000 will be awarded for each job created;
- A maximum of 100 new full-time jobs can be funded per company under the Alberta Job Creation Incentive Program (totalling $500,000 in Alberta business grants);
- January 1, 2016 will mark the first day for the creation of eligible jobs; and
- Grant funding amounts will be calculated using insurable earnings data based on employment in 2016 over 2015 and 2017 over 2016.
Eligible Applicants for the Alberta Job Creation Incentive Program
Eligibility requirements for this business finance program are fairly flexible. SMEs, corporations, registered charities, and other non-profit entities are all eligible for funding.
“Albertans have asked our government to support good local jobs as we grow and diversify our economy. We are following through on our promise to work with businesses so that they can create new jobs and support families during these tough economic times.”
-Lori Sigurdson, Minister of Jobs, Skills, Training and Labour
It’s worth noting that government entities (ie. Hospitals, schools) are ineligible for the Alberta Job Creation Incentive Program. Also, job creation that occurs prior to January 1, 2016 or replacement positions that do not increase the total workforce count of a company are ineligible for the grant. The intent is to support organizations of all sizes with new employment across all non-public sectors in Alberta.
More Updates on the Job Creation Incentive Program in 2016
This Alberta job creation funding for small business was announced in November 2015 and more details will be announced in early 2016. We will be sure to cover updates as they are announced and will be including them in our Weekly Canadian Government Funding Newsletter and on our blog.
Recent Alberta Government Funding:
- Alberta Export Expansion Program: Trade Show Grant Up to $15K
- Top Alberta Grant, Loan, and Tax Credit Programs for 2024
- Top Western Canada Grant & Loan Funding Programs
- Agri-Food and Bioindustrial Innovation Program (ABIP): Up to $500K in Grants for Agri-Food Tech
- International Technology Partnership Program (ITP): Up to $250K for Commercialization