Grant Application Now Open to BC Businesses Looking to Reduce Their Plastic Waste

Do you have a plastic waste reduction project for your business, but need funding to get it off the ground? You’re in luck! The CleanBC Plastics Action Fund Phase 2 is now accepting new applications. This $10 million fund was created for made-in-BC solutions to reduce plastic pollution and create new jobs in the process.  

You’re probably wondering, what kind of projects receive this funding? Projects are selected based on their ability to reduce the use of new plastic or increase the use of recycled plastics. Merlin Plastics used their grant to upgrade equipment to allow for better use of recycled plastics in their manufacturing process. The grant will pay for up to 2/3 of eligible expenses. The grant recipient must cover the remaining costs directly or through other means.  

Eligible expenses include:  

  • Capital expenditures related to the project 
  • Salary costs for project specific labor  
  • Retrofit costs to enable the project 
  • Contractor or partner organization fees 
  • Installation costs 
  • Freight or transportation charges 
  • PPE 

Like most grants, this is considered taxable revenue and should be reported on your corporate tax return. If you need help with that, the folks at Rise CPA can guide you through the process. You will also need supporting documentation such as a full project plan, budget breakdowns and financial statements.  

Interested grant applicants can apply online. Successful projects will be chosen beginning in late September and continuing until February 2023. All projects must be complete by Feb. 15, 2024. 

Your Business. New Heights. 

Rise CPA provides professional accounting, tax and business advice to help you make the right decisions at the right time. Since 1979, we’ve been helping clients create businesses and lifestyles they envision by delivering expert insights and financial guidance. At Rise, we excel at advising business owners and their families in a caring and personal way. Our services cover a wide range of Tax Planning, Auditing, Accounting, Estate Planning, and Business Advisory. Please call (604) 936-4377 or use the online contact form to book an appointment with one of our accounting professionals.