Sources of Funding & Budget Allocations
Planned Annual Sources of Funding
$ 1,600,000 |
3 % MRDT by 2029( Forecast a 6 % growth annually) |
$ 150,000 |
Co-op, Membership & Sales Initiatives |
$ 525,000 |
Grants & Other Partnership Funding |
$ 2,275,000 |
Approximate budget % allocations:
45 % |
Marketing & Communications |
10 % |
Administration |
45 % |
Destination Management & Development, including Visitor Services, Events & Animation |
0 % Capital Projects & Affordable Housing *
* MRDT funds will not be used for capital or affordable housing projects.
The Tourism Fernie Board of Directors, with support from the accommodators, will not use MRDT for affordable housing initiatives. However, Tourism Fernie does participate in the monthly Fernie Housing Solutions Group meetings to support tourism workforce housing information, data, grant applications and projects led by the Fernie Chamber of Commerce. The Group was originally created by the Mayor of Fernie in Fall 2022.
Any funding efforts in a capital nature would be required to come from the public and private sector and grants. Tourism Fernie can lead and execute destination capital / infrastructure projects with outside funding from other partners. The RDEK Sustainable Tourism Projects are an example of this.
Tourism Fernie also partners with the Fernie Chamber of Commerce on their Work In Fernie initiative to support tourism workforce attraction. The Fernie Chamber of Commerce takes the lead on housing and labour challenges affecting the business community. As such Tourism Fernie works closely with the Chamber on these challenges as they relate to tourism.
It is also noted that MRDT can’ t be used to replace existing sources of tourism funding. View MRDT Guidelines.
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