September 7, 2005

BANCROFT, Ontario, September 7, 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 contribution of $500,000 to the Community Futures Development Corporation (CFDC) of North and Central Hastings & South Algonquin for investment activities in the Bancroft-Central Hastings-Tweed area.

“This funding allows the CFDC to continue helping small and medium-sized enterprises flourish,” said Minister Bélanger.  “As well, it can pursue priorities such as youth retention and fostering technology initiatives.”

The CFDC of North & Central Hastings and South Algonquin is one of 61 CFDCs 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 CFDC of North and Central Hastings & South Algonquin invested $2,250,402 and assisted in creating or maintaining 112 jobs, contributing to an enhanced business community.

“We are pleased to receive Industry Canada’s assistance in addressing the future prosperity of our communities,” said Bruce Walker, Chair of the CFDC of North and Central Hastings & South Algonquin.  “Our organization continues to receive increasing demand for investment dollars.  We look forward to being able to meet that need and help create and maintain employment opportunities by working with and through small business.”

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 us at:  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