Emily Plihal
Local Journalism
Initiative Reporter
Peace River town council decided at its regular meeting on May 26 to move reserve funds into the Business Grant Program (BGP).
Since the initial introduction of the BGP, annual funding allotted in the operating budget has been $50,000. After one intake of the program this year, 60 per cent of the grant funds were awarded to five eligible businesses. Six applications were received for the second application intake, with a total grant request of up to $49,000.
“(I think) it could be that more are becoming aware of the grant program or that the timing fit their business timelines,” says Mayor Elaine Manzer of the increased applicants.
“Businesses are more aware of the opportunities to apply as well as how the grant might suit their individual business plans.”
In 2024, the program was undersubscribed with only about $22,000 disbursed to applicants. As a result, the remaining funds from 2024 were approved to be moved to 2025 to accommodate the increased applications.
“Basically, council felt the newness of the grant, might have been the reason for fewer applications in 2024,” Manzer explains.
“The program helps to show the municipality’s support of economic development for all business types in Peace River. Some of the grants are for projects that also enhance the attractiveness of the town,” she adds.
Two streams of applications that will be considered include Business Revitalization Grants or Tourism Enhancement Grants. Full details can be found on the town website peaceriver.ca.
Council also updated some requirements of the Business Grant Program to expand eligibility.
“After the policy was in place, an unintended consequence came to light, in that if there were two businesses operating from the same building and one applied for the grant, then the other was eliminated from applying for the grant even though the businesses were separate from each other and the committee asked council to change this requirement,” explains Manzer.
Now applicants in the same building, specifically malls or other commercial buildings, can apply for the grant.
“The changes were approved,” says Manzer. “This helps more businesses and fits council’s strategic plan on promoting economic development.”