By David Klassen
The Manitoba government is creating a $10 million economic development fund to improve capital for the province’s Métis community.
The announcement was made Saturday in Brandon at the 2010 MMF Annual General Assembly by Premier Greg Selinger and Manitoba Métis Federation (MMF) president David Chartrand.
“Métis entrepreneurs and businesses have always been major contributors to Manitoba’s economic success,” said Selinger. “This fund is designed to ensure new and growing Métis enterprises have access to the equity they need to continue that success in the 21st century. We look forward to the fund assisting and working with Métis entrepreneurs from across the province who are coming forward to create jobs.”
The Métis Economic Development Fund will stimulate the economic development activities of the Métis people of Manitoba by providing equity and capital for Métis-controlled businesses. The fund will be managed jointly by the Manitoba Government and the MMF and will provide equity investments of up to $500,000. Métis entrepreneurs and existing and new businesses in the Métis community are eligible to apply to the fund. Successful applicants will demonstrate viability through sound business planning. It is anticipated this new fund will be a catalyst for new partnerships and developments.
All revenue generated by the fund will be reinvested back into the fund to grow its supply of capital for investment in other Métis-owned enterprises.