Apply for funding before May 13!
Travel Alberta’s competitive investment funds are now open for applications. Under the new investment framework, which took effect April 1, 2022, more than $15 million dollars will be invested annually to help tourism businesses, communities and organizations enhance and grow their products and year-round experiences.
This is good news for all Albertans because a prosperous visitor economy diversifies and drives economic growth, creates jobs and supports businesses.
The new investment framework aligns with Travel Alberta's Bootstrap Plan by investing in product development, encouraging job creation and sustainable growth in key tourism regions. The dispersion of funds ensures projects are measurable and impactful, helping grow annual tourism spend to pre-pandemic levels by 2024.
Accordingly, you’ll notice some things have changed, including investment opportunities, eligibility criteria and reporting requirements.
Two funds are available that you can apply for now: the Cooperative Investment Fund and the Product Development Fund.
Cooperative Investment Fund
As in previous years, the Cooperative Investment Fund empowers communities to grow tourism revenue through destination development, promotion, and cultural activities. What’s different this year is that the focus is more rural due to the creation of the Community Investment Fund. It’s not about less money, but about distributing the monies differently.
Funding streams within the Cooperative Investment Fund include:
- Rural Development and Promotion provides up to $100,000 to grow rural visitation through destination development and promotion.
- Events and Festivals provides up to $100,000 to drive tourism revenue through cultural events and festivals across Alberta.