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Part of Grants and funding

Investment and Growth Fund

Companies with demonstrable barriers to making a final investment decision in Alberta may be invited to apply to this deal-closing incentive.

Overview

The Investment and Growth Fund (IGF) is an invite only deal-closing incentive designed to be offered in select late-stage investment decisions when there are demonstrable barriers to making a final investment decision in Alberta. It focuses on securing high-impact private sector investments that create new, well-paying jobs, spur economic growth and enhance Alberta’s productivity. The IGF program targets new investments and expansion projects located across the province.

Funding

Approved IGF applicants are eligible to receive a grant award between $500,000 and $10,000,000.

The grant award will not exceed 50% of budgeted capital expenditures for a proposed project.

Eligibility criteria

Applicant criteria

To qualify, the applicant company must be:

  • a for-profit company and able to demonstrate a track record of successful operations, revenue generation or expansions
  • well established, financially sound and able to deliver the project within the planned timeframe
  • operating in or proposing to operate in Alberta as a business that has an established production capability, plant or place of business located within the province

Project criteria

To qualify as a project, the proposed investment must meet the following criteria:

  • The applicant has not made a final decision to proceed with the project or investment, and has not made any public statements in any form through any means that suggest or imply that the applicant has made a final decision to proceed with the project or investment.
  • The applicant must demonstrate that the investment project would not occur in Alberta without the support of IGF funding.
  • The applicant can demonstrate a solid plan for establishing new or expanded operations in Alberta.
  • The applicant can demonstrate the project’s financial viability:
    • at least 80% of the total project costs are supported by committed sources of funding
    • no greater than 50% of total project costs may be funded by government programs or other public sources (federal, provincial, municipal, or other public sector entities)
  • The applicant can demonstrate discernible intent that operational benefits of the project will flow primarily within the province of Alberta.
  • The project meets minimum average annual wage requirements.
  • The IGF has a targeted minimum for each project of 10 new permanent full-time jobs and either:
    • $16 million in capital expenditures for projects located in census metropolitan areas (CMA) or
    • $11 million in capital expenditures for projects located in rural areas (that is, outside of CMA)

The eligibility criteria listed above are not exhaustive. Additional eligibility criteria and program information is available from the designated intake organizations listed under 'How to apply'.

How to apply

Alberta’s government is working with select designated IGF intake organizations with a mandate to attract investment to Alberta.

Companies interested in the IGF program are encouraged to contact one of the designated intake organizations listed below, based on the regional or sectoral profile of the proposed investment project, to learn more about the program, determine their eligibility and to initiate the application process. Alternatively, enquiries can be directed to [email protected].

IGF intake organizations

Government of Alberta ministries and agencies:

Municipal economic development organizations:

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