Volume 2, Issue 1: February 5, 2009
Recent Project Announcements
SIDIT supports Mrs. Palmer’s Pantry Inc., Cranbrook with loan financing.
SIDIT is very pleased to provide financial assistance for this Cranbrook based gourmet food manufacturer. Financing will assist the company to complete the equipment purchases necessary to increase production capacity for a product in high demand.
For the past 30 months, the company has focused on marketing/producing their healthy, nutritional Pita Chip line for high-end retail outlets and supermarkets in BC, Alta. and US markets. The Pita Chip snack has recently been approved in the highest category (Choose Most) under the BC Government’s revised guidelines for products approved for sale in BC schools and public buildings.
Grand Forks Art Gallery & Cultural Museum Project, Grand Forks - $75,000. grant funded December 2008.
Funding completed to support the Grand Forks Art Gallery & Cultural Museum project which is designed to build the region’s cultural tourism sector and enhance the arts and culture in the region.
British Columbia Community Forest Association, Kaslo - $10,000. grant December 2008
Grant funding for this new BC Community Forest Association project will assist First Nations & rural communities identify the unique characteristics of community forests in the marketplace. By building their capacity to access high value specialty markets, the project will help communities diversify their community forest enterprises.
Fly YXC Alliance Society, Kimberley - $186,000. grant December 15, 2008
SIDIT grant provided vital support to complete the Alliance’s agreement with Delta Air Lines to fly non-stop between Salt Lake City and the newly expanded Cranbrook airport.
The success of the expanded airport is critical to the growth of tourism and businesses throughout the region. All of the communities in the East Kootenay will be impacted by the new air service and the new markets, expanded opportunities will bring an increased growth and stability to the area.
Below: Presenting the cheque to Fly YXC Alliance Society Chair (left), John Sheehan, Vice President, Project Development, Havaday Developments/Wildstone and Secretary of Fly YXC Alliance Society (right), Andy Cohen, General Manager, Kimberley & Fernie Alpine Resorts, is SIDIT Director (centre), Mayor David Wilks, District of Sparwood.
SIDIT supports Sounds of Light Multicultural Society’s Vertical Log Timber Home Prototype Project with $95,000. grant.
The first $30,000. of a $95,000. grant was awarded to the Sounds of Light Multicultural Society for the completion of a Vertical Timber Log Home as the prototype for an affordable housing alternative.
In presenting the first instalment to the Secretary/Treasurer, Barbara Craven in Enderby on November 28, SIDIT CEO, Luby Pow stated that “SIDIT is pleased to support the Society with a $95,000. grant which will be paid in three instalments. SIDIT’s decision to fund the project was based on our view that the project supports economic diversification in small communities, provides a good outlet for “beetle kill pine” and long term economic sustainability is apparent through self or other employment opportunities for Youth at Risk”.
Below: cheque presented to Barbara Craven (front left) by SIDIT CEO, Luby Pow. Also in attendance were students from the work experience program.
Funding Approvals
To date, SIDIT has approved $1.3 million grants for projects valued at $8.7 million, $5.4 million Education Awards (3 year commitment) and $5.6 million Business Development Partnerships, loans or Equity Investments for projects valued over $19 million.
Upcoming Events
SIDIT’s next Board meeting is scheduled for February 26, in Kelowna.
