On Tuesday morning, just one week after the RMWB agreed to pitch in $15 million to support recovery funding for small businesses in the region, the province is set to officially launch the program.
Minister of Economic Development and Trade Deron Bilous will be in town at 11 a.m. alongside the Red Cross and the RMWB to announce the joint effort to provide case-by-case supports to ensure businesses survive the challenges brought on by the wildfire.
Councillor Keith McGrath has said that in both the Slave Lake fire and 2013 floods businesses suffered some of the biggest set-backs and there has been a huge focus on ensuring that doesn’t happen here in Fort McMurray and the surrounding area, especially when so many small local businesses were already struggling in the downturn.
Mayor Melissa Blake told council last week that she had heard from Bilous directly that the qualifications would be stricter than those that were in place for businesses to receive the $1,000 emergency relief funding. Among the qualifications businesses would have to meet are requirements to be licensed locally, employ 50 or fewer people and belong to either the Chamber of Commerce or the Construction Association.
Similar to the additional supports being provided to individuals and families through the Red Cross these supports will be approved on a case by case basis.
Council was told at last week’s meeting the total funding available for local businesses would be $60 million, including their contribution of $15 million and contributions from both the province and the Red Cross. The Red Cross announced a projected $25.5 million for small businesses last week. That would leave a $19.5 million commitment from the province.
