BONNYVILLE - The MD of Bonnyville is hoping to get a provincial grant application to foster northern and regional economic development.
The initiative aligns with the MD's Business and Industry Growth Strategy and includes two key project deliverables - a Regional Industrial Commercial Gap Analysis and an Airport Economic Impact Assessment.
The total budget for the projects is $80,000, with $50,000 being put toward the Regional Industrial Commercial Gap Analysis and $30,000 for the Airport Economic Impact Assessment, according to information presented to council at a Dec. 12 regular meeting. The MD is hoping to secure a 50 per cent matching grant from the Alberta government, with has a maximum eligible project cost of $200,000.
The main goal of the gap analysis is to identify potential locations for business development, while identifying competitors for similar businesses.
The assessment aims to evaluate the return on investment through increased industrial lot sales at the MD of Bonnyville Regional Airport and adjacent Aurora Borealis Industrial Subdivision. The assessment will be based on adding sewer and water services and improved road maintenance.
The grant application for the Regional Industrial Commercial Gap Analysis and an Airport Economic Impact Assessment had a submission deadline of Dec. 20, with adjudication expected in January.
If successful, the MD plans to initiate the projects in April 2024, completing them within the two-year time frame specified by the grant conditions.
Council voted in favour of approving the grant application.
