June 25, 2007

PICTON, Ontario, June 25, 2007 — Prince Edward–Hastings MP Daryl Kramp and Lanark–Frontenac–Lennox and Addington MP the Honourable Scott Reid, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a federal contribution of $340,000 to the Prince Edward/Lennox and Addington (PELA) Community Futures Development Corporation (CFDC) in support of its ongoing operations over one year.

“Through our partnership with the Prince Edward/Lennox and Addington CFDC, Canada’s New Government is helping local communities meet their economic development goals,” said Mr. Kramp.  “Our investment of $340,000 in the PELA CFDC means more employment opportunities and greater prosperity for communities and businesses throughout the region.”

“Canada’s New Government recognizes the significant role CFDCs play in revitalizing the local economy,” stated Mr. Reid.  “This funding further demonstrates our commitment to strengthening rural communities and the small business sector in Eastern Ontario.”

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 PELA 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 PELA CFDC invested $1,558,993 in small and medium-sized businesses in the region, resulting in the creation or maintenance of 154 full and part-time jobs, and contributing to an enhanced business community.

“This funding will open new doors for communities and businesses throughout the area,” said PELA CFDC Chair John Jackson.  “We look forward to helping author more business success stories through the services we offer.”

The Prince Edward/Lennox and Addington 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