April 3, 2007

WELLAND, Ontario, April 3, 2007 — Niagara West—Glanbrook MP Dean Allison, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced funding of $360,000 from Canada’s New Government to the Venture Niagara Community Futures Development Corporation (CFDC).

“Canada’s New Government is proud to work in partnership to get things done for the people of the Niagara region” said Mr. Allison.  “Today’s investment of over $360,000 will help with the development of local solutions to address local priorities.”

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 Venture Niagara CFDC provides 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.  The CFDC supports the rural Niagara communities of Grimsby, Lincoln, Pelham, Welland, Thorold and Niagara on the Lake.

Of the $360,000 announced today, $315,000 will support the Venture Niagara CFDC’s ongoing operations for one year, while the remaining $45,000 will support professional development and regional marketing activities for the eight CFDC organizations located in the Southwest area.

Over the last year, the Venture Niagara CFDC invested $633,163 and assisted in creating or maintaining 128 jobs, contributing to an enhanced business community.

“We are pleased that this CFDC continues to be an important player in efforts to ensure a strong future for this region,” said Douglas Johnson, Chair of the Venture Niagara CFDC.  “This funding gives us the tools we need to address priorities such as youth retention, tourism and rural opportunities.”

The Venture Niagara CFDC 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