May 8, 2006

HANOVER, Ontario, May 8, 2006 – Bruce–Grey–Owen Sound MP, Larry Miller, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a Government of Canada investment of $280,000 in the local Community Futures Development Corporation (CFDC) known as the Saugeen Economic Development Corporation.  The investment will support the ongoing operations of the CFDC over the next year, including business services and access to capital for small and medium-sized businesses, as well as community economic development efforts.

The Saugeen Economic Development Corporation is one of 61 CFDCs in rural and Northern Ontario funded by Industry Canada’s Community Futures Program through FedNor.  CFDCs deliver a wide variety of programs and services to support community economic development and small business growth.  They employ local staff and are each governed by a volunteer Board of Directors made up of local community representatives.

“I am pleased to announce this ongoing support for the important work undertaken by the Saugeen Economic Development Corporation,” said Mr. Miller.  “This organization has been a vital contributor and resource to the region’s business community and entrepreneurs.”

“The Government of Canada recognizes the important role this CFDC plays in stimulating the local economy,” stated Minister Clement.  “Across Canada, CFDCs have an excellent track record of fostering economic development, employment creation and self-reliant communities.”

In the last five years, Ontario CFDCs, through their investment and business counselling activities, invested more than $230 million to help the small business sector create or maintain 27,000 jobs.  Last year, the Saugeen Economic Development Corporation invested over $1.1M ($1,105,474) and assisted in creating or maintaining 168 jobs, contributing to an enhanced business community.

“This funding will enable us to continue to make a significant positive contribution towards the development of business and job opportunities in the region,” said Duncan McCallum, Chair of Saugeen Economic Development Corporation.

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, Industry Canada/FedNor
(613) 954-3691 or 1 877 333-6673