The Zoom call today provided some further details on the proposed capital investments to improve production capacity and efficiency. Mr. Harpur confirmed PLAN had made applications under the BC Manufacturing Investment Fund to help finance the cost of the additions. This fund has two streams as follows:
Stream 1 - Project Readiness
Funding to complete final-stage business and project planning, including operational and technical assessments.
Funding Amount
Maximum: $50,000
Up to 50% of total eligible project costs
Examples
Develop a business case to expand operations or diversify product lines
Conduct an operational or technical assessment to improve processes or introduce new technology
Early research, concept development and scoping are not eligible activities.
Stream 2 - Capital Investment
Funding to invest in new or renovated manufacturing infrastructure, technology, equipment, and processes, including renovating idle industrial buildings such as an unused mill site.
Funding Amount
Minimum: $100,000
Maximum: $10,000,000
Total eligible project costs should be approximately $500,000 up to $100 million
Up to 20% of total eligible project costs
Funding Details
Projects should be initiated within one year
Funding will be paid out in installments based on milestones achieved