October 21, 2005
PEMBROKE, Ontario, October 21, 2005 - The Honourable Mauril Bélanger, Minister for Internal Trade, Deputy Leader of the Government in the House of Commons and Member of Parliament for Ottawa–Vanier, on behalf of the Honourable Andy Mitchell, Minister of State (FedNor), today announced a Government of Canada investment of $103,300 in the Renfrew County Community Futures Development Corporation (CFDC). The funding will support four projects under the Business Development component of the Eastern Ontario Development Fund (EODF).
“The Government of Canada is proud to partner with local level organizations such as CFDCs to foster business growth, diversity and job creation in Eastern Ontario,” said Minister Bélanger. “With its solid track record, we can expect the Renfrew County CFDC to play a vital role in the region’s future prosperity.”
This week, communities throughout Ontario are celebrating the significant role small and medium-sized businesses and CFDCs play in stimulating economic development in rural and Northern Ontario. Small Business Week, an initiative of the Business Development Bank of Canada, runs from October 16-22, 2005. On Friday, October 21, the spotlight will be on Community Futures Development Corporations in celebration of CFDC Day.
Of the four EODF projects being funded, $63,300 will be allocated to three Community Capacity initiatives, including: development of an impact study for the building of a new facility for the Ottawa Valley Campus of Algonquin College (a new facility would allow an increase in enrollments, lead to further expansion of college programs, create additional professional and support jobs and community economic spin offs, as well as the expansion of corporate training opportunities); implementation of various production improvement measures as well as the development of a Web site for the Makwa First Nation's Community Development Corporations' Corry Lake Nursery; and, purchasing of equipment and completion of venue renovations for the Stone Fence Theatre to increase audience attendance, and create tourism opportunities in the region. The remaining $40,000 is being allocated for a regional project to study the establishment of a wood residuals secondary processing facility in the area.
There are 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 residents representative of the community.
In the last five years, Ontario CFDCs, through their investment and business counselling activities, invested more than $229 million to help the small business sector create or maintain 26,418 jobs. Last year, the Renfrew County Community Futures Development Corporation invested $1,098,752 and assisted in creating or maintening 123 jobs, contributing to an enhanced business community.
“Each of these projects is critical to the region’s growth,” said Ted Barron, Chair of the Renfrew County CFDC. “This is an opportunity to build on our community’s strengths and further diversify to stimulate the local economy.”
Through the EODF, the Government of Canada is acting on its commitment to support economic growth and diversification in rural communities.
Funding for this initiative was provided for in the February 2005 federal budget and is therefore built into the existing fiscal framework.
To find out more about Ontario CFDCs, visit: http://cfdc-ontario.ic.gc.ca
For more information, please contact:
Graeme Wilkes
Director of Communications, Office of the Honourable Andy Mitchell, Minister of State (FedNor)
(613) 947-5850
Yves Chateauneuf
Communications Officer, Industry Canada/FedNor
(519) 645-5684 or 1 877 333-66