June 1, 2007

HANOVER, Ontario, June 1, 2007 — Larry Miller, MP for Bruce–Grey–Owen Sound, and Gary Shellenberger, MP for Perth–Wellington, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a federal contribution of $340,100 to the local Community Futures Development Corporation (CFDC) known as the Saugeen Economic Development Corporation.

“On behalf Canada’s New Government, I am proud to announce this investment of $340,100 for the Saugeen Economic Development Corporation,” said Mr. Miller.  “By providing communities the tools they need to strengthen their economy, we are getting things done for the people of rural Ontario.”

“We are determined to create the right environment to enable entrepreneurs and businesses to seize opportunities and succeed,” added Mr. Shellenberger.  “This funding of more than $310,000 will help create new businesses and expand existing ones, creating jobs and wealth for our communities.”

Budget 2007 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 Saugeen Economic Development Corporation 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.

Of the $340,100 announced today, $290,000 will support the Saugeen Economic Development Corporation’s ongoing operations for one year, while the remaining $50,100 will support regional activities such as strategic planning, professional development, and marketing for the seven CFDC organizations belonging to the South Central Regional Network.

Over the last year, the Saugeen Economic Development Corporation invested $1,099,898 in small and medium-sized businesses in the region, resulting in the creation or maintenance of 234 full and part-time jobs, and contributing to an enhanced business community.

“Thanks to this funding, we can continue with our efforts to help this region grow and develop,” said Duncan McCallum, Chair of the Saugeen Economic Development Corporation.

“Encouraging diversification, creating more year-round employment and addressing youth outmigration are some of our key priorities.”

The Saugeen Economic Development Corporation 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