February 18, 2005

HAWKESBURY, Ontario, February 18, 2005 – The Honourable Don Boudria, Member of Parliament for Glengarry-Prescott-Russell, today announced a Government of Canada investment totalling $531,000 in support of two local Community Futures Development Corporations (CFDCs).  Of this amount, $268,500 will be allocated to the Prescott-Russell Community Development Corporation located in Hawkesbury, and $262,500 will go to the Stormont, Dundas and Glengarry CFDC located in Cornwall.  The funding will be used to support the ongoing activities of the CFDCs, including business services, access to capital for small and medium-sized businesses, and community economic development efforts.

“These two CFDCs have a long history of assisting area communities and businesses in capitalizing on opportunities to reach their full potential,” said Mr. Boudria.

The Prescott-Russell Community Development Corporation and the Stormont, Dundas and Glengarry CFDC are part of a network 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 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 $196 million to help the small business sector create or maintain 22,288 jobs.

“We look forward to continue addressing the needs of those we serve, including supporting youth entrepreneurs and value-added food producers by providing access to resources and capital,” said Gilbert Héroux, President of the Prescott-Russell CFDC.

“Priorities for this year include efforts to diversify and strengthen the economy, foster export opportunities, invest up to $1 million in area businesses, and work to attract companies in the bioproduct, biotechnology, and food and beverage manufacturing sectors,” said Charles Sangster, Chair of the Stormont, Dundas and Glengarry CFDC.

Through these initiatives 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 March 2004 federal budget and is therefore built into the existing fiscal framework.

To find out more about Ontario CFDCs, visit us at:  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

Robert Naud 
Senior Communications Officer, Industry Canada/FedNor
(613) 954-3691 or 1-877-333-6673