Cochrane’s economic development received a boost this year, courtesy of the province’s Community and Economic Supports (CARES) program.
Last week the NDP announced this year’s recipients of the economic development funds, including $75,600 for Cochrane’s Dark Fibre Lease Project and $10,850 for the Community Futures Centre West in Cochrane – to go toward its SMARTstart entrepreneur training program to rural communities.
“The CARES program is meant to help diversify the economy … it’s meant to target industries poised for growth,” said Banff-Cochrane NDP MLA Cam Westhead, adding that he is well aware that Cochrane has expressed significant interest in attracting more tech sector industries, start-ups and jobs to town.
More than $3.9 million was announced in CARES funding this year through 62 projects. The two-year funding program was announced in 2016 and through the 2018 budget, has been renewed for two more years.
In March 2017, Minister Deron Bilous of economic development and trade accompanied Westhead to Cochrane to dole out $212,000 in CARES dollars to various community and town economic development projects for Cochrane and area.
Grant dollars for tourism
The tourism sector, one of the industries flagged for growth, will see some funding support this year with the Tourism Growth Innovation Fund (TGIF).
The new funding program will provide $1 million to support economic growth through tourism offerings through its matching grants of up to $75,000 each; the program focuses on shoulder and off-season supports. Intake will be twice yearly.
Jo-Anne Oucharek, executive director of the Cochrane Tourism Association, said the CTA is currently reviewing the application process for the TGIF streams, with respect to their Tourism Opportunity Assessment project that engages businesses to create a matrix of tourism assets.
The CTA recently received $15,000 in co-funding for their Content Development project, in conjunction with Travel Alberta.
Westhead highlighted other tourism grant programs, including the Community Facilities Enhancement Program and the Community Initiatives Program – each of which offers a quarterly intake for grant applicants.
Budget 2018 includes $56.4 million for domestic and international tourism growth in the province.
