April 27, 2007
ST.THOMAS, Ontario, April 27, 2007 — Elgin–Middlesex–London MP Joe Preston, on behalf of the Honourable Tony Clement, Minister of Health and Minister for FedNor, today announced a federal contribution of $885, 000 to the Elgin Community Futures Development Corporation (CFDC) in support of its ongoing operations for three years.
“This investment of $885,000 is a good example of how Canada’s New Government is getting things done for families and taxpayers by supporting the local economy,” stated Mr. Preston. “Our efforts are helping improve the quality of life and are ensuring that Elgin remains a strong region.”
Budget 2007, announced by Canada’s New Government in March, introduces 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
CFDCs 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 Elgin CFDC invested close to half a million dollars in small and mediumsized businesses in the region, resulting in the creation or maintenance of 54 full and part-time jobs and contributing to an enhanced business community.
“The Elgin CFDC has a long history of helping grow the local economy,” said Wendell Graves, Chair of the Elgin CFDC. “The funding will provide the essential means to succeed in creating new businesses and employment.”
The Elgin 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