The Local Area Municipality (LAM) Fund intends to support the municipalities of Niagara in furthering their plans to facilitate opportunities for the creation of jobs and growing the economy by developing strategies to attract business and investment. The fund also supports Business Retention and Expansion efforts through Buy Local campaigns.
The LAM Fund provides cost-share funding for projects that help Niagara’s municipalities achieve one or more of the following:
- Undertake evidence-based planning to identify priorities and measure economic performance
- Collaboration for economic growth
- Economic competitiveness and diversity (i.e., attraction, retention and expansion of businesses)
- Innovative communities
- Expansion of markets
- Creation and/or retention of jobs
- Attraction, development or retention of a highly skilled workforce
- Advertising campaigns and marketing events intended to broaden local business exposure
- Advance the defined priorities as outlined in either the local municipal economic development/strategic plan or, once released, the Niagara Economic Development 10 Year Strategy (Inspire, Invest, Grow 2032)
The LAM Fund through Niagara Economic Development may provide up to 75% of the eligible project cost to a total grant of $7,833.33 annually. Your project must serve to advance the defined priorities as outlined in the Niagara Economic Development 10 Year Strategy (Inspire, Invest, Grow 2032) and this must be demonstrated in your application. Multiple applications can be made until the $7,833.33 maximum is reached.
These funds are intended to assist you by matching your municipality’s contributions towards a project and will further leverage investment from other partners including Provincial/Federal government, private sector, or other public sector and not-for profit partners where possible.
If your proposed project aligns with the defined priorities as outlined in the Niagara Economic Development 10 Year Strategy (Inspire, Invest, Grow 2032) and is approved, the municipality is responsible for a 25% matching contribution of cash. Please review the Strategy to determine if your project meets the criteria.
Funding may be provided in the full amount of the request, at a reduced amount, or not at all. The time frame for delivery of the projects cannot be extended without written notice to Niagara Economic Development.
Niagara Economic Development will monitor the project and may request additional information throughout the duration of the project. All projects must be complete by December 31, 2024. As such, the deadline for applications is October 31, 2024.
The applicant will complete a final report using a template provided by Niagara Economic Development to capture the outcomes of the project upon completion. Reporting will be due within 1 month of project completion, or, at latest, by March 31, 2025.