Budget 2023 Supports CEDF $15 Million for Economic Development Activities.

March 17, 2023

On March 15, 2023, Premier Heather Stefanson and Economic Development, Investment and Trade Minister Jeff Wharton announced that as part of the Budget 2023, the government has focused on economic opportunities, and an additional $50 million is now available to assist Manitoba businesses access capital at all stages of business growth through the Manitoba First Fund (MFF).

Stefanson noted that the creation and capitalization of the MFF is one of many ways the Manitoba government is supporting business. Budget 2023 makes investments to spur economic development opportunities, generate well-paying jobs and strengthen the Manitoba government’s fiscal resilience, all of which will support Manitobans through challenging times.

The support for the business community announced in Budget 2023 include:

  • $15-million investment in the Communities Economic Development Fund.
  • $20-million investment to support economic development and investment attraction.
  • $2-million funding increase to support regional and strategic economic development.
  • Collaboration with the Assembly of Manitoba Chiefs to offer non-traditional lending options through the First Peoples Economic Growth Fund.
  • $2.3-million increase to the payroll tax exemption to $2.25 million from $2 million and to the threshold below which businesses pay a reduced effective rate to $4.5 million from $ million.
  • $10.1 million investment to support the Sector Council Program.

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