The Investment Attraction Fund (“Fund”) is designed to attract large-scale businesses and foreign direct investment (“FDI”) to the Province of Newfoundland and Labrador (“the province”). It provides customized financial assistance to inward investors in support of establishing a business in the province or expanding a business as a result of FDI. The Fund consists of an allocation for loans and advances towards strategic investments in infrastructure support costs, human resource costs or other costs, as determined by the Department of Tourism, Culture, Industry and Innovation.
For the purpose of this Fund, inward investment includes investments in start-up or expansion activated by investors external to the province. The investment may be in the form of equity or loans. Inward investments require a direct contribution of funds by the inward investor in addition to any potential funding that may be sourced from the Government of Canada, commercial lending institutions and/or venture capital firms.To be eligible for funding, the business must:
Proposals for funding under the Investment Attraction Fund must be accompanied by a detailed business plan which will generally include the following information: