July 27, 2006
ELORA, Ontario, July 27, 2006 — Wellington-Halton Hills MP, the Honourable Michael D. Chong, Kitchener-Conestoga MP, Harold Glenn Albrecht, Perth-Wellington MP, Gary Schellenberger, and Cambridge MP, Gary Goodyear, are pleased to announce, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, a Government of Canada investment of $500,000 in the Community Futures Development Corporation (CFDC) of Wellington/Waterloo.
The funding will be used by the CFDC for investment activities in the nine townships located in the County of Wellington and the Regional Municipality of Waterloo. It will help meet the increased demand by small and medium-sized businesses for repayable loans, equity and loan guarantees.
“Canada’s new government believes that small businesses are the engines that drive the economy of our rural communities, and this investment in the CFDC of Wellington/Waterloo will enable the growth of this important sector of our economy,” said Minister Chong.
“In the two years since its inception, the CFDC of Wellington/Waterloo has made great strides in bringing together local stakeholders to address community economic stability, growth and job creation,” commented Mr. Albrecht.
“This Government is proud to partner with organizations such as this one in order to create diversified and competitive local rural economies and sustainable communities,” said Mr. Schellenberger.
“The success of the CFDC of Wellington/Waterloo’s investment activities in the region will complement our budget’s significant tax breaks for small businesses,” added Mr. Goodyear.
In the last five years, Ontario CFDCs have provided loans and business counselling services to help the small business sector create or maintain 27,000 jobs. Last year, the CFDC of Wellington/Waterloo invested just over $1M and assisted in creating or maintaining 48 jobs, contributing to an enhanced business community.
“As a new CFDC serving the region, we have experienced a tremendous uptake for our access to capital services,” said Joe Martens, Chair of the CFDC of Wellington/Waterloo. “This capitalization of our investment fund will enable us to continue to support small business growth and job creation.”
To find out more about Ontario CFDCs, visit: http://cfdc-ontario.ic.gc.ca
For more information, please contact:
Erik Waddell
Press Secretary, Office of the Honourable Tony Clement
613-957-0200
Robert Naud
Senior Communications Officer, FedNor
613-954-3691 or 1-877-333-6673