Successful project applicants will demonstrate consistency with the Trust’s vision, mission, objectives and strategic priorities. 

In addition to meeting the specific program guidelines, projects should demonstrate:

  1. Consistency with strategic priorities and any established community, regional, and sectoral economic development plans in the proposed area of investment.
  2. Economic growth and diversification impacts with a preference for regional impacts that do not adversely impact the economies of neighbouring communities.
  3. Tangible incremental economic benefits such as leveraging new investment, growing and diversifying the economy, creating or enhancing employment or recruiting new business enterprises within an identified short to medium time frame.
  4. Cooperation between communities, local governments, First Nations or other regional organizations.
  5. Long term economic and environmental sustainability.
  6. High standards of financial management, accountability and transparency, with a bias for low administrative costs.
  7. Innovative approaches or solutions.
  8. Tipping point principle: funding requested is incremental to and complementary to existing programs and the project would not be able to proceed without ICET investment.

Project funding and leveraging

The Trust’s overall investment leveraging goal is 1:3. This means that for every dollar the Trust invests, it expects that an additional $3.00 will be invested (1:3 matching ratio). While the matching funding guidelines allow for funding ratios of 1:1 and 1:2, based on the economic vitality of the local area, the Trust expects that applicants will make all reasonable efforts to:

  • Meet the Trust’s investment leverage goal of 1:3
  • Demonstrate diversified funding sources including private and non-government funding sources
  • Demonstrate significant applicant equity investment
person years employment created (construction phase)
locally elected officials and MLAs working together
million annual provincial government revenue generated
post completion jobs created
dollars leveraged for every ICET dollar invested
million leveraged into the region
million disbursed
million committed
economic development projects
projects completed
projects in small (less than 5,000) communities
communities with ICET projects

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