Central Alberta communities sharing federal funding for foreign investment

Central Alberta is sharing in $3 million in federal funding for the promotion of foreign direct investment.

Central Alberta is sharing in $3 million in federal funding for the promotion of foreign direct investment.

The Town of Ponoka is receiving $5,500 and Central Alberta Economic Partnership (CAEP) is getting $4,000 under the Invest Canada-Community Initiatives (ICCI) program.

They are among 86 communities and organizations across the country that qualified for a piece of the more than $3 million being paid out under the program this year.

CAEP is regional economic development alliance consisting of municipalities and other members and associate members from across Central Alberta.

A government release said applications for funding were evaluated on the basis of their foreign direct investment attraction and retention strategies, project components, performance measures, capacity, work plan and the level of public-private sector partnership. Recipients in Alberta accounted for nearly $380,000 of the total payout.

Last year, Central Alberta Access Prosperity — an economic partnership involving the City of Red Deer, Red Deer County, Red Deer College, the Red Deer Chamber of Commerce and CAEP — received $49,000 under the program, and the Olds Institute for Community and Regional Development was paid $10,250.

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