Alberta government announces $500K in funding for Indigenous community-owned businesses

The Alberta government announced funding Monday that it says will help Indigenous community-owned businesses.

The Aboriginal Business Investment Fund will provide eligible businesses with up to $500,000 in funding “for ventures that demonstrate social and economic benefits for their communities,” like boosting employment opportunities and revenue streams.

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In a news release, the province said businesses can apply for the fund from June 29 to Sept. 30.

“Communities must own and control 51 per cent or more of the proposed business or joint venture to be eligible,” the province said.

“Thanks to ABIF funds, Kainai Forage is able to play a key role in growing the on-reserve economy and providing employment and advancement opportunities for our membership, while positioning the Blood Tribe as a broader participant in global agricultural businesses,” said Blood Tribe Chief Roy Fox.

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The government said ABIF has supported 40 projects to date, creating jobs and spinoff businesses.

Past funding from ABIF has been used to build grocery stores, hotels and gas stations; buy heavy equipment; and expand a forage operation that exported timothy hay and alfalfa internationally, according to the province.

© 2020 Global News, a division of Corus Entertainment Inc.

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