More than 2,400 businesses in Western Canada receive RRRF funding to protect almost 11,000 jobs and address the impact of COVID-19
September 3, 2020 – Winnipeg, Manitoba – Western Economic Diversification Canada
COVID-19 has had a severe impact on businesses of all sizes across the country, and those whose livelihoods depend on them. Across Western Canada, thousands of local businesses have faced challenges keeping their employees, paying rent and managing cash flow. From the outset, the Government of Canada has taken meaningful action to support them, including through the $962 million Regional Relief and Recovery Fund (RRRF.)
Nearly doubling the budget of Canada’s Regional Development Agencies, the RRRF supports businesses that have been unable to get access to other federal relief measures, and might be in danger of falling through the cracks. In the West, Western Economic Diversification Canada (WD) is delivering, in collaboration with the Community Futures Pan West Network, over $300 million to protect jobs, support businesses and help them play a role in our economic recovery.
Jobs and Recovery for Western Canada
The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada, today announced that more than 2,400 businesses in Western Canada have received over $154 million in RRRF funding, protecting almost 11,000 jobs in communities across the West.
Most of the firms supported are small businesses with fewer than 100 employees, including many local start-ups. One such firm is Winnipeg’s Vexxit Inc., which opened in January 2020 – just before COVID-19 hit. This burgeoning start-up, which is majority women owned, has a unique IP-protected algorithm to match professional services firms to clients. The RRRF has played a major role in helping it maintain its team of highly skilled employees, including data scientists and IT professionals as well as positioning it to play a role in our economic recovery.