Canada's Regional Development Agencies: Coronavirus disease (COVID-19)
Canada's regional development agencies (RDA) are the front line for economic development in Canada and help to address key economic challenges by providing regionally tailored programs, services, knowledge and expertise.
RDAs are closely monitoring the COVID-19 global challenge and the impacts on businesses and workers as well as the broader economy.
If you are a tourism operator or small or medium-sized business or organization that has received RDA funding and COVID-19 is affecting your operations, you are encouraged to contact your local RDA office at the number below. Your local RDA office can review your situation and provide guidance.
We are taking action
The Government of Canada is taking action to support businesses and workers affected by the COVID-19 pandemic. You can take advantage of new investments and initiatives such as the following:
- A deferral of three months on all payments due to the government, as of April 1, 2020. This moratorium, applied by the RDAs, will defer payments and related interest charges to relieve some of the pressure businesses may be facing. RDAs are working with businesses that receive funding to formalize these deferrals into an amended repayment schedule. This will give businesses more certainty with respect to payment obligations.
- The Regional Relief and Recovery Fund (RRRF) to help businesses and organizations continue their operations, including paying their employees. It will also help support projects by businesses, organizations and communities to prepare now for a successful recovery. This initiative, implemented by the six regional development agencies in collaboration with the national network of Community Futures Development Corporations, is targeted to support businesses that are unable to access other government relief measures. The RRRF has two components:
- $675 million to support regional economies, businesses, organizations and communities in regions across Canada
- $287 million to support the national network of Community Futures Development Corporations to provide funding and support to small businesses and the rural communities in which they operate
- The Canadian Seafood Stabilization Fund, a $62.5 million fund delivered directly through the Atlantic Canada Opportunities Agency, Western Economic Diversification Canada and Canada Economic Development for Quebec Regions. It will help businesses access short-term financing to:
- increase storage capacity, and find storage solutions for unsold product
- adapt plant operations, and invest in equipment, services and materials to address challenges associated with COVID-19
- respond to changing markets and consumer needs
- The Northern Business Relief Fund, which provides eligible territorial SMEs affected by the economic disruptions due to COVID-19 with short-term relief for operational costs in the form of non-repayable grants ranging from $2,500 to a maximum of $100,000. The funding will cover a maximum period of four months, retroactive to April 1, 2020. This fund is delivered directly through the Canadian Northern Economic Development Agency.
The Government of Canada has introduced a number of other support measures as part of Canada's COVID-19 Economic Response Plan. For more information on additional government support available to your business and workers, please visit canada.ca/covid-19-business.
Visit the Public Health Agency of Canada website for the latest health information and guidance. Canada.ca/coronavirus
Canada's regional development agencies
Atlantic Canada Opportunities Agency (ACOA)
Canada Economic Development for Quebec Regions (CED)
Canadian Northern Economic Development Agency (CanNor)
Western Economic Diversification Canada (WD)
Find out more about Canada's Regional Development Agencies
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