At is Jan. 12 regular meeting, Peace River town council adopted some minor changes to the Business Grant Program Policy that will clarify requirements to participate in the program.
One change was adding a clarification that the business applying for the grant must be located within town limits. The previous policy only required applicants to hold a valid business license.
“The Business Grants Program is designed to support business activity within the town of Peace River, including reinvestment in property improvements and tourism-related expansions,” explains Mayor Shelly Shannon.
“Restricting eligibility to businesses located in town guarantees the Town’s limited grant funding directly benefits local businesses that contribute to the local tax base rather than businesses outside the community’s borders. This aligns with the intent of the policy to stimulate development and revitalization within the town boundaries.”
Shannon adds the 2026 first quarter intake for the program began on Jan. 12 and will run until Feb. 28. She says there will be two other intakes, in spring and fall.
“The current council is strongly supportive of economic development, a priority clearly reflected in our strategic objectives,” says Shannon.
“This grant program is a direct outcome of that commitment, designed to stimulate investment in local properties while enhancing the community’s aesthetic appeal and tourism competitiveness in Peace River.”
Shannon says by reimbursing eligible hard costs once projects are complete, the program helps businesses invest sooner and do more with their available capital.
“The Business Grants Program provides financial assistance that reduces the cost burden of improvements or expansions, such as exterior building or property upgrades or tourism-related enhancements and new product or service offerings,” she says.
“Businesses can also use the grant to refresh storefronts, signage, accessibility, and other improvements that can attract customers.”
The Economic Development Committee (EDC) chooses which of the applicants are successful in each intake.
“The (EDC) is responsible for evaluating business grant applications using established criteria to confirm alignment with the program’s goals,” Shannon explains.
“The EDC is a committee of council with the authority to make decisions on this program. Having the EDC review also removes bias from individual decision-makers and uses expertise from a group focused on local economic development.”
Budget for the Business Grant Program in 2025 was $50,000 but Shannon says council has not yet confirmed the amount of money that will be allocated from the budget for the 2026 grant
Emily Plihal
Local Journalism
Initiative Reporter