October 21, 2005

GORE BAY, Ontario October 21, 2005 – Brent St. Denis, Member of Parliament for Algoma–Manitoulin–Kapuskasing, today announced a FedNor investment of $50,000 to the LAMBAC Community Futures Development Corporation (CFDC).  The Local Initiatives (LI) funding will be used to support community economic development projects within the region.

CFDCs such as LAMBAC are vital contributors to the economies of communities in the North,” said Mr. St. Denis.  “The Government of Canada is committed to its ongoing support of the Community Futures Program and today’s announcement reflects this commitment.”

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.

The LI contribution supports LAMBAC’s community economic development mandate by providing project funds to communities and organizations within its service area.  Applications must be approved by the CFDC’s Board of Directors and funding is to a maximum of $5,000 in most cases.  Eligible projects may include:  pre-feasibility studies; research projects; community information; communication and technology efforts; initiatives that promote innovation, technology and e-commerce; small-scale capital projects; seminars and workshops; marketing and promotional activities; and community tourism events.

LAMBAC is one of 61 Community Futures Development Corporations 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, Northern Ontario CFDCs have successfully invested more than $101 million through their loans and business counselling activities to help the small business sector create or maintain 10,621 jobs in the North.  Last year, the LAMBAC CFDC invested $982,368 and assisted in creating or maintaining 97 jobs, contributing to an enhanced business community.

“We receive many requests for assistance with small-scale projects, training seminars and tourism events, among other things,” said Ken Ferguson, Chair of the LAMBAC CFDC.  “This funding allows us to better meet this increasing demand.”

FedNor helps rural and Northern communities strengthen their economies and create jobs.  By partnering with CFDCs such as LAMBAC, FedNor is opening doors and building futures for a prosperous Northern Ontario.

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:


For more information, please contact:

Graeme Wilkes
Director of Communications, Office of the Honourable Andy Mitchell, Minister of State (FedNor)
(613) 947-5850

Mario Paluzzi
Communications Officer, FedNor
(705) 941-2064 or 1 877 333-6673