July 15, 2005
PRESCOTT, Ontario, July 15, 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, today provided more details on how the Grenville Community Futures Development Corporation (CFDC) will share in the Eastern Ontario Development Fund (EODF). During the first phase of the EODF, the Government of Canada invested $10 million to promote economic development in Eastern Ontario. An additional $8.2 million was provided under Budget 2005, announced in February of this year.
“The Government of Canada understands the challenges facing rural Eastern Ontario communities and is committed to providing the tools they need to grow and prosper,” said Minister Bélanger. “Since the launch of the Program, the EODF has generated tremendous interest from our local partners, resulting in more than 650 funded projects to benefit Eastern Ontario communities.”
“As a result of our renewed funding in the EODF, the Grenville CFDC will have accessed more than $1 million in EODF funds since the launch of the Program,” added Minister Bélanger. “This is another example of how the Government of Canada works with local-level partners to foster economic development, employment creation and vibrant, thriving communities.”
The EODF is a Government of Canada initiative announced in the spring of 2004. It was created following extensive consultation with Eastern Ontario CFDCs and community and municipal leaders. The EODF promotes socio-economic development in rural Eastern Ontario, contributes to the successful development of business and job opportunities and sustainable self-reliant communities, and will lead to a competitive and diversified regional economy.
Again this year, the program will support five key economic development priorities, namely business development, access to capital, skills development, retention and attraction of youth, and technological enhancements.
The 15 CFDCs located throughout rural Eastern Ontario were selected to deliver the EODF based on an extensive network of community partners, a proven track record in community economic development, and an established infrastructure made up of some 47 staff members and more than 200 volunteers.
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.
“This program is another example of how our organization can play a key role in the future growth and prosperity of the region,” said Lisa Taylor, Chair of the Grenville CFDC. “The EODF is a particularly beneficial initiative because it allows us to address specific needs in our communities.”
The delivery of the EODF will continue to be managed by FedNor, a Government of Canada regional economic development organization responsible for the Community Futures Program in Ontario.
Through the Eastern Ontario Development Fund and 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
Robert Naud
Senior Communications Officer, Industry Canada/FedNor
(613) 954-3691 or 1 877 333-6673
Orli Namian
Director of Communications, Office of the Honourable Mauril Bélanger
(613) 299-6422