Government of Canada launches program to support Lytton's business community
The Lytton Business Restart Program provides contribution funding to support the restart and revitalization of local business in Lytton, B.C.
LYTTON, BC, Feb. 15, 2024 /CNW/ - A vibrant business community is vital to the recovery of Lytton, B.C. Businesses provide jobs, create places to gather, bring in visitors, and are a big part of what draws people to a community.
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced that the Lytton Business Restart Program is open for applications. Through this $7.2 million program, PacifiCan will provide funding to eligible small businesses who will operate in the community of Lytton.
Since the devastating Lytton Creek Wildfire in 2021, complex land recovery efforts have taken place, and the community is now ready to focus on rebuilding. Last year, the Government of Canada launched a program to help Lytton homeowners rebuild more fire-resilient and climate friendly homes. Now, the Government of Canada is here to support the restart of Lytton's business community.
The Lytton Business Restart Program will help Lytton build back its economic core. Returning and new businesses can apply for support through the program, which has two funding streams tailored to the community's needs. The Rapid Restart stream provides up to $20,000 in non-repayable contributions for returning businesses that require a small amount of funding to restart operations. The Small Business Recovery stream provides larger amounts of funding up to $1 million as repayable contributions, with some consideration for non-repayable contributions for businesses that have been identified as critical to Lytton's rebuild and longer-term economic vitality.
In response to local needs, the Lytton Business Restart Program is open to small businesses that plan to operate in the Village of Lytton and within 15 kilometers of the Village, including on reserve. Throughout the intake period, PacifiCan will actively seek proposals, including from Indigenous businesses, as well as those operated by women, youth, and other underrepresented groups. PacifiCan is also working in partnership with the local Community Futures, which will help potential applicants with business planning.
PacifiCan is one partner supporting Lytton's recovery, alongside the Province of British Columbia, other federal departments, the Village of Lytton, the Thompson-Nicola Regional District, Indigenous communities, and leadership in the region.
For more information, visit the PacifiCan website at www.canada.ca/pacifican-lytton-programs. Potential applicants are encouraged to reach out to the PacifiCan team at [email protected] for a one-on-one consultation to discuss their business plans and review program eligibility.
Quotes
"The people of Lytton have faced many challenges on the road to rebuilding their community. PacifiCan is working closely with the community, leadership in the region, and many other partners to ensure our rebuild programs align with the community's priorities. The Business Restart Program will help create a strong and vibrant economy so that Lytton is once more a great place to live, work and visit."
- The Honourable Harjit S. Sajjan, Minister of Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
Quick Facts
- PacifiCan is the federal economic development agency dedicated to British Columbians.
- In June 2022, Minister Sajjan announced $13.2 million in PacifiCan funding to deliver two Lytton recovery programs: $6 million for the Lytton Homeowner Resilient Rebuild Program and $7.2 million for the Lytton Business Restart Program.
- In May 2023, PacifiCan began accepting applications for the Lytton Homeowner Resilient Rebuild Program.
- Eligible applicants for the Lytton Business Restart Program are businesses that plan to operate in the Village of Lytton or within 15 km of the Village of Lytton, in a region that was considered part of the Lytton community (including on reserve), are small or medium enterprises (including sole proprietors), are a recognized business for taxation purposes, and are prepared to start operations in step with the timelines to rebuild the community.
- While all businesses seeking to operate in Lytton may apply, funding priority will be given to core businesses identified as necessary for the economic restart of the community including grocery stores, restaurants, and hotels.
- Funding is available in the form of both non-repayable and repayable contributions. The repayable contributions are interest-free when repaid within a pre-determined time.
- Examples of eligible costs covered by the program include:
- equipment (e.g. machinery, computers)
- supplies (e.g. textiles, baking ingredients)
- other business expenses (e.g. commercial space fit-up, communications)
- basic construction costs (Small Business Recovery stream only)
Associated Links:
- PacifiCan Lytton programs
- Community Futures Sun Country
- Community Futures Development Corporation of Central Interior First Nations
- Government of Canada News Release (May 31, 2023): Government of Canada launches program to help Lytton homeowners rebuild resilient homes
Stay connected
Follow PacifiCan on Twitter and LinkedIn
Toll-Free Number: 1-888-338-9378
TTY (telecommunications device for the hearing impaired): 1-877-303-3388
SOURCE Pacific Economic Development Canada
News published on and distributed by:
