Introducing: The Rural Diversification Initiative

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Introducing The Rural Diversification Initiative
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For over twenty years Community Futures has been
a driving force for building healthy, prosperous
communities in rural Alberta. Now we are
introducing the Rural Diversification Initiative
funds for rural economic diversification.
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• The Rural Diversification Initiative is based on
  the belief that, in order to be competitive,
  rural communities must build
• long-term sustainability
• resiliency in the face of change
• a broad economic base with a variety of
  businesses and jobs

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Diversification involves changing and growing
local economies so that they no longer rely
completely on one particular industry.
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Diversified economies produce revenues from a
variety of sources. Therefore, they are far more
resilient during economic downturns.
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• How does the Rural Diversification Initiative
  help drive diversification?
• It provides funds to Community Futures
  organizations for economic diversification
  projects in Alberta.

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• The Rural Diversification Initiative can provide
  funding of up to 60 of project costs for
  projects that have
• A minimum size of 100,000
• Clear, measurable economic outcomes
• Established partnerships with other
  organizations
• Strong private sector support

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• What kinds of projects can get funded?
• Cluster Development
• Productivity Enhancement
• Import Replacement
• Development of New Markets
• Innovative Access to Capital

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• Who can apply for funding?
• Private sector organizations
• Not-for-profit organizations
• Community organizations
• Municipal governments

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• Eligibility requirements
• Application must come through a CF office
• Rural economic diversification
• Measureable economic impacts (planning not
  eligible)
• 40 matching funds
• Regional benefits

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• Eligibility requirements continued
• Not a grant to business
• Strong private sector support (aim for 10
  cash)
• Long term viability
• Not infrastructure
• Appropriate partners

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• Examples of the Rural Diversification Initiative
  at work
• South East Alberta Technology Strategy

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• Examples of the Rural Diversification Initiative
  at work
• Building Tourism Clusters in the Canadian
  Badlands

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All applications for the Rural Diversification
Initiative must be made through your local
Community Futures organization. For more
information, contact RDI guidelines are posted
on our website at cfna.ca under Rural
Diversification
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