April 11, 2007

BANCROFT, Ontario, April 11, 2007 — Prince Edward−Hastings MP Daryl Kramp and Renfrew−Nipissing−Pembroke MP Cheryl Gallant, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a federal contribution of $863,750 to the Community Futures Development Corporation (CFDC) of North & Central Hastings and South Algonquin for its ongoing operations over the next three years.

“Canada’s New Government believes that small businesses are the engines that drive the economy of our rural communities, and this investment in the Community Futures Development Corporation is supporting the growth of this important sector of our economy,” said Mr. Kramp.

“Our Government is committed to community economic development, and our partnership with this local organization is helping to make the local economy grow stronger and create jobs.”

“Community Futures Development Corporations are dedicated to assisting communities and businesses reach their full potential, and Canada’s New Government is proud to support their efforts,” said Ms. Gallant.  “Today’s investment of over $860,000 will help support the Community Futures Development Corporation of North & Central Hastings and South Algonquin for its ongoing operations over the next three years”.

Budget 2007, announced March 19th in Ottawa, introduced a number of key initiatives in support of the small business sector, including:

• reducing the federal paper burden on small business
• reducing the tax compliance burden on small business
• introducing tax reductions which will lower Canada’s tax rate on new business investment

The CFDC will use FedNor funding to provide services to support local economic development and small business growth, including:  access to capital; business services; community-based projects; and strategic community planning and socio-economic development.

Over the last year, the CFDC of North & Central Hastings and South Algonquin invested $1.5M and assisted in creating or maintaining 178 jobs, contributing to an enhanced business community.

“We are proud of our accomplishments to date and pleased to receive the strong mandate provided by multi-year funding,” said CFDC of North & Central Hastings and South Algonquin Chair Bruce Walker.  “This will allow us to continue in our efforts to help this region flourish.”

The CFDC of North & Central Hastings and South Algonquin is one of 61 Community Futures Development Corporations in rural and Northern Ontario funded by FedNor’s Community Futures Program.

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, FedNor
613-954-3691 or 1-877-333-6673