KAST is proud to receive $50,000 in SIDIT support annually for our Venture Acceleration Program

Southern Interior Development Initiative Trust (SIDIT) Fiscal 2017 Annual Report

KAST is proud to receive $50,000 in SIDIT support annually for our Venture Acceleration Program

SIDIT’s Fiscal 2017 Annual Report has been released, which has been prepared for stakeholders, including the British Columbia Provincial Government.  The Report showcases the ongoing support of SIDIT towards economic development initiatives in the Southern Interior, from the Thompson Okanagan Region to the Columbia Kootenay Region.

KAST is proud to receive $50,000 in SIDIT support annually for our Venture Acceleration Program.

SIDIT fiscal 2017 was a successful year for SIDIT, funding $3,759,805 in loans and investments, and have cumulatively leveraged loans and investments at 2:22 to 1.  $726,511 were awarded in grants, including post-secondary educational support.

Since 2006, SIDIT has preserved the initial $50 million allocation from the BC Government and has invested nearly $55 million in projects worth over $218 million.  SIDIT’s overall economic impact exceeds $288 million, creating and preserving more than 3,000 jobs across the region. SIDIT’s ongoing support of small to medium size businesses, including start-ups, provides them the opportunity to expand operations, attract and retain employees, and allows them to compete in the global marketplace.

As part of SIDIT’s ongoing reporting and self-evaluation commitment, a third-party Socio-Economic Impact Assessment Report was prepared by Lochaven Management Consultants/Urban Matters.  The report reviewed qualitative and quantitative impact related information, and employed both primary and secondary research.

Click HERE to read the report.

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