Fund Will Support Business, Employment and Training Opportunities
Released by the Ministry of Aboriginal Affairs
Ontario is investing in First Nation, Métis and Inuit communities to grow local businesses and create employment.
The Aboriginal Economic Development Fund (AEDF) is a three-year, $25 million initiative, which will:
- Help Aboriginal communities develop long-term strategies to diversify their economies,
- Improve community capacity for economic development,
- Provide access to financing to start and expand Aboriginal businesses, and
- Enable communities to collaborate on region-wide employment and skills training projects.
The AEDF was introduced in the 2014 Budget as part of Ontario's Jobs and Prosperity Fund and is an important part of Ontario's Treaty Strategy.
Improving socioeconomic outcomes for Aboriginal people is part of the government's economic plan for Ontario. The four part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.
Quick Facts
- There are more than 9,000 entrepreneurs in Ontario who identify as First Nation, Métis or Inuit.
- Applications are now open for Aboriginal communities and organizations looking to develop economic plans focused on new and emerging sectors, as well as fund feasibility studies to implement economic diversification strategies.
- A call for proposals has been issued to Aboriginal Financial Institutions, Provincial Territorial Organizations, Tribal Councils and Aboriginal business organizations to deliver other AEDF initiatives that improve access to financing, employment and skills training.
