October 11, 2005

NAPANEE, Ontario, October 11, 2005 – The Honourable Mauril Bélanger, Minister for Internal Trade, Deputy Leader of the Government in the House of Commons and Member of Parliament for Ottawa–Vanier, on behalf of the Honourable Andy Mitchell, Minister of State (FedNor), today announced a Government of Canada investment of $300,000 in the Prince Edward/Lennox & Addington (PELA) Community Futures Development Corporation (CFDC).  The funding will be used to support the ongoing operations of the CFDC over the next year, including business services and access to capital for small and medium-sized businesses, as well as community economic development efforts.

“This announcement demonstrates how our government works with grass roots partners to foster economic development, employment creation and diversification,” said Minister Bélanger.  “The PELA CFDC has played a key role in stimulating the local economy for nearly 20 years.”

The Prince Edward/Lennox & Addington Community Futures Development Corporation is one of 61 Community Futures Development Corporations in rural and Northern Ontario funded by Industry Canada’s Community Futures Program through FedNor.  CFDCs deliver a wide variety of programs and services to support community economic development and small business growth.  They employ local staff and are each governed by a volunteer board of directors made up of local residents representative of the community.

In the last five years, Ontario CFDCs, through their investment and business counselling activities, invested more than $229 million to help the small business sector create or maintain 26,418 jobs.  Last year, the Prince Edward/Lennox & Addington Community Futures Development Corporation invested $1,615,744 and assisted in creating or maintaining 156 jobs, contributing to an enhanced business community.

“We are pleased to have this opportunity to continue strengthening the regional economy and creating jobs,” said Doug Sexsmith, Chair of the PELA CFDC.  “Out migration of youth, pursuing global knowledge-based economy opportunities, enhancing local telecommunications infrastructure, improving quality of life, and attracting new industry are top priorities for us.”

Through its investment in CFDCs the Government of Canada is acting on its commitment to support economic growth and diversification in rural communities.

Funding for this initiative was provided for in the February 2005 federal budget and is therefore built into the existing fiscal framework.

To find out more about Ontario CFDCs, visit:  http://cfdc-ontario.ic.gc.ca

For more information, please contact:

Graeme Wilkes
Director of Communications, Office of the Honourable Andy Mitchell, Minister of State (FedNor)
(613) 947-5850

Yves Chateauneuf
Communications Officer, FedNor
(519) 645-5684 or 1 877 333-6673