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Canada’s New Government Announces $287,500 Investment In Support Of Small and Medium-Sized Businesses In South Niagara

June 26, 2007

Fort Erie, Ontario, June 26, 2007 — Niagara Falls MP The Honourable Robert Nicholson, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a federal contribution of $287,500 to the South Niagara Community Futures Development Corporation in support of its ongoing operations over the next year.

“Canada’s New Government is committed to providing the tools rural communities need to grow and succeed,” stated Minister Nicholson.  “Our investment of $287,500 in the South Niagara CFDC ensures that small and medium-sized businesses and communities continue to have access to information and services vital to their economic development well-being.”

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 South 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.

Over the last year, the South Niagara CFDC invested more than $600,000 in small and medium-sized businesses in the region, resulting in the creation or maintenance of over 30 full and part-time jobs, and contributing to an enhanced business community.

“This funding will allow us to continue in our efforts to help revitalize the local and regional economy in a proactive and professional manner,” said South Niagara CFDC Chair, Sandy White.  “Our organization continues to receive increasing demand for investment dollars.  We look forward to being able to meet that need and help create and maintain employment opportunities by working with local small businesses.”

The South 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