Community Futures' goal is to encourage long-term, sustainable economic development and diversification in the Island Coastal Region. That includes working in partnership with others to enhance the economic, social, environmental and cultural health of the area through community economic development.

So in addition to providing loans and other support for new business start-ups and growing enterprises, Community Futures is sometimes able to provide seed funding for community economic development initiatives.

The focus of such funding is primarily on economic development. Social, environmental and cultural outcomes are certainly important, but are secondary.

Money is limited, so special consideration is given to applications from communities with the greatest economic need.

Not-for-profit societies, co-operatives, informal associations, local governments and First Nation bands are examples of groups that have qualified for grants in the past. Individual businesses are not eligible, but can benefit from being part of a wider consortium.

Examples of such projects to date include the ongoing expansion of affordable high-speed internet connections to remoter rural communities in the north of Vancouver Island through practical and financial support for the Ragged Edge Community Network. Places like Holberg and Sointula are already connected, with Zeballos, Old Quatsino and Coal Harbour next in line to be offered hook-ups.

Big telecom companies simply will not accept there enough customers to provide a viable service, but because web communications are increasingly vital to the economic sustainability of communities, a group of organizations and agencies have come together to help finance the ongoing initiative. Further down Island in the Comox Valley, grants from Community Futures Strathcona have supported the establishment of an agricultural equipment co-operative shared by 80 farmers – an initiative described by local Farmers' Institute president Gerry McClintock as being invaluable in helping boost agricultural productivity and diversification.

And in Cowichan, the impressive Sportsplex that helped attract the upcoming North American Indigenous Games to the area was created through tireless volunteer effort by local people who formed a not-for-profit society to raise funds and create partnerships to develop the much-needed local facilities, supported in many practical ways by Community Futures. Meanwhile on the mainland, the restoration of the historic harbour boardwalk and working waterwheel at Lund has created new amenities, not just for local people but also tourists, helping boost spending in the village. Community Futures provided 70% of the funding for the project, which was an initiative of local businesses and residents.