Fredericton hopes ACOA money will revitalize COVID-weary downtown

ACOA announced the $10 million 'Rediscover Main Streets' initiative
 
The Fredericton Chamber of Commerce is hailing an Atlantic Canada Opportunities Agency program that would see money invested in downtown areas in the region.

ACOA announced the $10 million "Rediscover Main Streets" initiative which it said would "inspire locals and tourists to re-experience Atlantic Canada's main streets, downtowns and neighbourhoods." 

Various non-profit organizations, like chambers of commerce and community groups, would be eligible to apply for the funding.

Krista Ross, the CEO of the Fredericton Chamber of Commerce, said the announcement comes at an important time after two years of pandemic restrictions, restrictions that have just been lifted.

"There has never been a better time or a more important time for people to consciously decide to support local," Ross said. "These businesses have had an exceptionally tough couple of years, and even though restrictions have now been lifted, it's not like flipping a switch."

Revitalizing downtowns

If approved the chamber would only receive a portion of the $10 million set aside for the whole region.

ACOA said contributions to individual groups would range between $25,000 and $500,000.

The agency also made some suggestions on what the money could be spent on, such as packages for food and accommodation highlighting local cuisine, partnering with festivals and marketing campaigns asking people to buy local.
 
Ross said she hopes a couple of groups in the city would be eligible to receive funding.

"We're very hopeful that Fredericton will get approved for, you know, whichever programs are applied for," said Ross. 

Ross said there's a lot of enthusiasm from the business community in Fredericton about the program, and she knows Downtown Fredericton Inc. and Business Fredericton North are both putting in applications.

What the program does not offer is direct financial assistance to businesses impacted by the pandemic.

Tough few years

Ross said it's possible that some businesses would've preferred direct funding, but she said those businesses will still be helped by the funding.

"What this will do is provide sort of an overall help to the business community as a whole and take perhaps $3 million in the province and make it go further by supporting a variety of businesses through a diverse mix of projects," said Ross.

The chamber hasn't decided whether it will make its own proposal or whether it will simply support proposals brought forward by other groups.

Regardless, Ross said, the goal is to support local businesses.

"They have two years of economic hardship really to overcome and it's going to take some time for them to be economically, I guess, comfortable again," said Ross. 

"We need to really support that if we want these businesses around … we need to support them."

CBC News · Posted: Mar 24, 2022 7:50 AM AT
https://www.cbc.ca/news/canada/new-brunswick/fredericton-acoa-money-downtown-1.6395764