Product Development Fund

• Assets and infrastructure: Construct or purchase new tourism assets or infrastructure that support the creation of a new visitor experience or product
• Improvements: Improve or enhance existing tourism products and experiences to attract more visitor spend
• Sustainability: Support eco-friendly initiatives, like solar power, as part of new experience
• Professional support: Pay for expert consultation and project management cost
• Natural area development: Develop outdoor spaces, like trails, for better visitor experiences
• Lease or purchase costs: Lease or buy equipment that offers new visitor activities not currently available or enhances the existing offerings and visitor experience
• Specialized equipment for a diverse market: Invest in specialized equipment that enables your organization to cater to a broader range of people, including those with different physical abilities
• Seasonal temporary or movable structures: Improve visitor comfort and enhance their experience  by setting up temporary structures that can be moved around during different seasons
• Testing new experiences: Pilot and try out new experiences to see how visitors respond
• Developing interpretive programs: Development of interpretive programs that enhance or create new tourism experiences
• Content development: Create engaging content through photography, videos, and written materials (must provide a shot list with your application)
• Promotional support: Website development and online sales platforms

• 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

• 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 the dates agreed upon by Travel Alberta

• Expenses will need to be invoiced by a qualified third party and documented in the financial reconciliation.

• Must provide financial statements, including 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
  • 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
  • Tourism and commercial recreation lease (highlight and brief description) 
  • Municipal land use bylaw requirements
  • Development/recreation permits
  • Copies of property plans and development dimensions 
  • Construction schedule with associated budget timeline 

• Revenue generation
• Job creation
• Visitation (domestic and international)
• Stimulate private sector investments

• Expression of interest (EOI): To be considered for funding, you must first complete an EOI that will be reviewed and evaluated against eligibility criteria and strategic priorities. 
• EOI submission period: Expression of interest opens in October 17, 2024 and close in November 8, 2024 at 4:00 pm MT. Late submissions will not be considered. 
• Successful applicants receive full intake form: Once your EOI is reviewed, if it meets the requirements, your destination development manager will send you a link to complete a formal grant application in November 2024. Submission deadline is December 2, 2024 at 4:00 pm MT. Late submissions will not be accepted. 
• No guarantees with the application link: Not all operators will receive funding, regardless of EOI outcome. If you have any questions about this process, reach out to tourisminvestment@travelalberta.com. 
• Criteria for projects:  
  • Your infrastructure project must be "shovel ready," which means you've already gotten all the necessary approvals, permits, and financing in place.
  • You need to have secured at least half (50%) of your financial commitment to the project to apply for funding.
    • Example of a $500,000 project:
      • If an operator can provide the required 25% matching contribution (for this example, $125,000) Travel Alberta can invest up to 75% of the project (for this example, $375,000).
      • To apply for this funding stream, you must have secured at least 50% of your required matching contribution (in this case, $125,000 / 2 = $62,500).

•  Travel Alberta's authority: Travel Alberta has the final say in managing funding requests. All programs are highly competitive, and we may have to say no to projects based on not meeting certain eligibility requirements or based on competition of funds.  
• Funding approval process and timing: The investment decisions for the 2025-26 intake period will be made in early 2025. If Travel Alberta approves your funding request, you will be sent a Travel Alberta grant agreement in early 2025.
•  Receiving the funds: Once everything has been finalized and the agreement has been executed by both parties, the funding will be deposited in Spring 2025, directly in your bank account through an Electronic Funds Transfer (EFT).  

Please take your time to prepare your application and make sure you meet all the requirements.