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Canadian COVID-19 Update | Wednesday, May 13

May 13, 2020

TIAC’s Advocacy Update

  • Today, Canada’s six Canada’s Regional Development Agencies (RDAs) are now accepting applications under the Regional Relief and Recovery Fund (RRRF). TIAC has long been advocating for financial support for small, seasonal, rural and other SMEs, including DMOs who have not been able to access existing government support measures.  
    • The $1B in support will help to:
      • mitigate the financial pressure experienced by businesses and organizations to allow them to continue their operations, including paying their employees;
      • support projects by businesses, organizations and communities to prepare now for a successful recovery.
    • More information on the fund and which RDA you apply to can be found here:
  • Today TIAC’s VP of Business Development and Stakeholder Relations participated in the Canada Employment Insurance Commission’s Business Liaison Group hosted by Judith Andrew, Commissioner (Employers) / Commissaire (Employeurs) 
    • This meeting focused on assisting association memberships in getting through the pandemic by evaluating what is working in employment support and what adjustments are needed and initiatives for potential for mutual support.
    • TIAC provided input on key needs for tourism employers and gaps in existing measures. 

In Case You Missed It … 

  • The President & CEO participated in a COVID-19 webinar hosted by Destination Canada yesterday evening, alongside Minister Melanie Joly  
  • The government extended access to the Business Credit Availability Program (BCAP) to include larger, medium-sized enterprises; a program for large corporations was also launched – the Large Employer Emergency Financing Facility (LEEFF) which involves bridge financing for corporations facing liquidity challenges due to COVID-19
    • As there are few details on these programs, we will provide details as information becomes available. See more information below under “Government Announcements” 
  • TIAC is releasing data collected from our April survey in coordination with McKinsey and Destination Canada 

Resources for Businesses 

Government Announcements

  • Today, the Prime Minister announced that further details will be released for the previously announced Regional Relief and Recovery Fund (RRRF) of nearly $1 billion. $675 million of this fund will be administered by the six regional development agencies, and will provide support to businesses in rural communities and those that may not qualify for other announced programs.
  • Through the RRRF, support for tourism operators with needs like covering operational costs, access to liquidity, or to pay employees is available. Tourism operators that do not qualify for the Canada Emergency Wage Subsidy (CEWS) or the Canada Emergency Business Account (CEBA) are encouraged to apply. Members must contact their RDA to apply for funding.
  • Students and recent grads will be able to apply for the Canada Emergency Student Benefit starting Friday, via the CRA website.
  • Health Canada has announced that a new serological COVID-19 test is approved and available in Canada. This new test can detect antibodies for COVID-19 in an individual’s blood, and is an important step in understanding immunity against the virus and how it spreads.
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