About $1.5 million in provincial funding is designed to provide rural Albertans with better access to information about succession planning.
The money is part of a $100 million Rural Alberta Development Fund established a year ago to spark innovation and growth in rural areas.
The latest project will provide people outside Calgary and Edmonton with access to business experts who can help transfer skills and business between generations, said Jim Henderson, executive director for the Alberta Business Family Institute at the University of Alberta.
“Business families, particularly those in rural communities, face unique and complex opportunities and challenges,” Henderson said.
Read Also
Land crash warning rejected
A technical analyst believes that Saskatchewan land values could be due for a correction, but land owners and FCC say supply/demand fundamentals drive land prices – not mathematical models
“Funding of this program allows us to promote economic development in rural communities, build community capacity, expand learning and skill development and provide opportunities for rural youth.”
Traditionally, the programs have only been offered in the two larger centres. The program money will help establish it in Camrose, Grande Prairie and Lethbridge.
Henderson said the money will be used to establish offices and train staff in three satellite offices.
He said the project is a way to promote economic development in rural areas and build business transfer and succession planning expertise that will carry on after the funding ends in three years.
Godfrey Huybregts, director of communications for the Rural Alberta Development Fund, said eight projects have been approved and another five will be announced shortly. The 13 projects are valued at $14 million.
More than 250 requests have been made for the fund, but most were rejected because the applicants were applying for money to renovate existing buildings rather than stimulate the rural economy.
