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Community Adjustment Fund

New in Canada's Economic Action Plan

Through Canada's Economic Action Plan, the federal government aims to help mitigate the short-term impacts of restructuring in communities through the Community Adjustment Fund. Budget 2009 provides $1 billion over two years for the fund.

About the Program

The Community Adjustment Fund will support activities such as community transition plans that foster economic development, science and technology initiatives, and other measures that promote economic diversification.

The fund will be delivered nationally through the regional development agencies, Industry Canada as well as the newly created Federal Economic Development Agency for Southern Ontario and Canadian Northern Economic Development Agency. Funding will flow through existing programs and mechanisms and/or through bilateral agreements with individual provinces and territories.

How It Works

Delivering departments and agencies will solicit and evaluate projects based on selection criteria, which will include the ability of a project to start quickly and be completed within a two-year timeframe. Priority will also be given to projects that generate immediate employment and leverage funds from provinces, territories and other funding partners, among other criteria.

Projects will be funded in and around eligible communities. Eligible communities will be defined by specific criteria using indicators such as job losses and unemployment rate. Only communities with a population of less than 250,000 will be eligible.