September 29, 2005
KINCARDINE, Ontario, September 29, 2005 – Paul Steckle, Member of Parliament for Huron–Bruce, today announced a Government of Canada investment of $851,250 in the Bruce Community Futures Development Corporation (CFDC). The funding will be used to support the ongoing operations of the CFDC over the next three years, including business services and access to capital for small and medium-sized businesses, as well as community economic development efforts.
“This organization has been an important local-level partner for nearly 20 years in the Government of Canada’s efforts to foster economic development, job creation and self-reliant communities,” said Mr. Steckle. “The CFDC has a strong mandate to continue efforts to build on strengths in the economy, such as agriculture and tourism, while promoting diversification.”
The Bruce CFDC 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 Bruce Community Futures Development Corporation invested $900,164 and assisted in creating or maintaining 162 jobs, contributing to an enhanced business community.
“We’re pleased to play a key role in helping the region to flourish,” said Barb Fisher, Chair of the Bruce CFDC. “Priorities include follow up on business retention and expansion surveys in partnership with local municipalities and chambers of commerce, developing an energy cluster and introducing an innovation round table for the manufacturing sector.”
Through its investments 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, Industry Canada/FedNor
(519) 645-5684 or 1 877 333-6673