Growth Fund

• Enhancing Tourism: Funds for improving tourism-related aspects, including experiences and services.

• Facility Diversification: Money can be used to buy existing buildings for expansion.

• Promoting Sustainability: Support for eco-friendly initiatives, like solar power.

• Professional Support: Expert consultation, project management, and operational costs.

• Natural Area Development: Money for creating outdoor spaces, like trails, for better visitor experiences.

Not Eligible for Funding: This program does not provide funding for the following purposes:

• Routine upgrades, maintenance, or adhering to regulations for existing facilities.
• Purchasing or leasing land.
• Licensed motorized vehicles.
• Costs associated with replacing, repairing, or upgrading equipment.
• Office furnishings, decorations, or equipment such as computers, copiers, and phones.
• Highway, business, or community signage.
• Construction, expansion, or enhancements of community recreation facilities.
• Standalone bathroom construction or renovation.
• Conference and event centers.
• Campground upgrades or expansions to add sites, services, or additional buildings like washrooms.
• Construction or expansion of major hotel developments (with over 50 rooms).
• Ongoing operating costs including administration, staff salaries, administrative expenses, and maintenance.
• Legal, insurance, audit, or banking interest fees.
• Costs related to working capital, debt service, operating losses, capital losses, or capital redemption.
• Road construction, such as paved or gravel access roads.
• Consultants or contractors for grant administration.
• GST/HST.
• Expenses that Travel Alberta, at its discretion, deems ineligible.

• A business plan for your company is required.
• Expenses must be incurred between April 1, 2023 – March 31, 2024.
• Expenses will need to be invoiced by a qualified third party and documented in the financial reconciliation.
• 2021 and 2022 Financial statements which would include an income statement and balance sheet.
• Infrastructure related projects require a written endorsement from the local municipality (city, town or county).
• Copies of all supporting documentation must be provided, including but not limited to:
  • Legal description of the property and copy of the registered title or lease agreement number
  • Business/operating license obtained
  • If the project is on land leased from the crown – a letter from a representative of the appropriate government authority indicating the proposed project is permitted under the lease agreement will be required.
  • Tourism and commercial recreation lease obtained. (highlight and brief description)
  • Municipal land use bylaw requirements met
  • Development/recreation permits obtained
  • Copies of property plans and development dimensions
  • Construction schedule with associated budget timeline

• Revenue Generation
• Job creation
• Visitation (domestic and international)

Expression of Interest (EOI) for Funding: If you want to get financial support for your project, the first thing you need to do is send in an Expression of Interest (EOI).

Submission Period: Check back in early 2024.

Next Steps After EOI Approval: If a Travel Alberta Destination Development Manager likes your EOI and gives it the thumbs up, they will send you a special link. This link will take you to an online application form.

Application Period: If you receive an application link, you can apply from September 12 to October 13.

No Guarantee with the Link: It's important to understand that just because you get the application link from Travel Alberta, it doesn't automatically mean you'll get the funding. If you have any questions about this process, you can send them to tourisminvestment@travelalberta.com.

Criteria for Growth Projects: If your project is all about growth, there are a couple of things you need to keep in mind:

• Your project must be "shovel ready," which means you've already gotten all the necessary approvals, permits, and financing in place.
• You also need to have secured at least half (50%) of the total money you need for your project.

Travel Alberta's Authority: Travel Alberta has the final say in managing funding requests. They might say no to projects that don't meet their rules or if they have too many requests to fund.

Funding Approval Process: If Travel Alberta approves your funding request, they will send you a Travel Alberta Grant Agreement. 

Getting the Funds: Once everything is set and your project is approved, the money will be sent to you through an Electronic Funds Transfer (EFT). This means the money will go directly into your bank account electronically.

Releasing Funds: After your project is approved, and you've given them all the necessary documents, you will receive the full amount.

Investment Decision Timing: Decisions about who gets the money won't be made until late in the year 2023. So, you'll need to be patient and wait a little while to know for sure.

Take your time to prepare your application, make sure you meet all the requirements, and best of luck with your funding application!