Edmonton launches economic recovery program to support local businesses

The City of Edmonton announced Wednesday the launch of an economic recovery program to help support local businesses reopen during the pandemic.

According to a release, a number of steps are being taken to help the economy recover, including making it easier for local businesses to get back up and running.

The program will build on already existing supports and programs for businesses and consists of five tools:

• Option to reduce business licence fee payment by 50% (upon request) until December 31, 2020
• The Edmonton Economic Recovery Grant
• Continued One-on-One Support Program
• Process improvements and red tape reduction
• Nimble responses to specific business needs for relaunch and recovery

“Businesses are a vital part of our community and now they are facing significant challenges due to COVID-19,” said Deputy City Manager Stephanie McCabe of Urban Form and Corporate Strategic Development.

“The Economic Recovery Program is a result of ongoing conversations we’ve had with the business community to help them adjust to the challenges imposed by the pandemic.”

The two-phased funding program is “designed to support businesses in the initial relaunch and through the recovery phase as further COVID-19 effects on business are identified,” says the release.

“The funds will be delivered through two streams: the City stream and the Business Association stream. The City stream will provide matching grants of a maximum of $25,000 per grant to applicants struggling to reopen or pivot their business as a result of COVID-19. The Business Association stream will provide up to $75,000 per grant to applicants who deliver projects or programs that directly support the grant program criteria.”

More information will be available online after June 8, the city says.