May 26, 2005

INGERSOLL, Ontario, May 26, 2005 – The Honourable Joe Comuzzi, Minister of State (FedNor), today announced a Government of Canada investment of $250,000 to the local Community Futures Development Corporation (CFDC) known as the Oxford Small Business Support Centre Inc.  The funding will be used to support the ongoing activities of the CFDC, including business services, access to capital for small and medium-sized businesses, and community economic development efforts.

“The Oxford County CFDC has contributed to the economic prosperity of the area for over a decade,” said Minister of State Comuzzi.  “This funding will allow this organization to continue addressing local priorities such as promoting tourism, investing in knowledge-based economy initiatives and creating job and training opportunities for area youth.”

The Oxford Small Business Support Centre 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 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 Oxford Small Business Support Centre Inc. invested $457,000 and assisted in creating or maintaining 70 jobs, contributing to an enhanced business community.

“This investment allows us to proceed with our plans to strengthen the local economy,” said Bruce Richards, Chair of the Oxford Small Business Support Centre.  “We are proud to play a key role in enhancing the local small business community and promoting diversification in the area.”

Through its investments in CFDCs, 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 Joe Comuzzi
(613) 947-5850

Yves Châteauneuf
Communications Officer, Industry Canada/FedNor
(519) 645-5684 or 1 877 333-6673