June 22, 2005

KEMPTVILLE, June 22, 2005 – At the Grenville Community Futures Development Corporation (GCFDC) Annual General Meeting held today at the North Grenville Municipal Centre, GCFDC announced local economic development projects that received close to $140,000 of support under the Eastern Ontario Development Fund (EODF) in 2004-2005, fully committing the $600,000 local allocation for implementation of Phase I of EODF.  This announcement follows announcements valued at $460,000 that were made at a media event held on February 23, 2005 at the Town Hall in Prescott.

Ms. Teri Devine, EODF Project Coordinator, announced that since the media event held on February 23, 2005, GCFDC has made the following commitments with a number of local public and private sector partners:

• $58,362 for skills development in support of nine businesses and their efforts to train staff
• $14,383 for youth retention/attraction in support of extensions to nine youth internships
• $67,255 for access to capital in support of six façade improvements

Examples of specific projects receiving this support from GCFDC include expansion of the “Community Can Collection Program” by Community Living North Grenville, skills trade training for several local small businesses, and façade improvement projects for downtown businesses in Kemptville and Prescott.

Ms. Devine reported that GCFDC has made the following commitments totaling $600,000 to implement Phase I of the EODF:

• $220,000 for business development in support of nine economic development projects and three business plans
• $139,362 for skills development in support of thirteen local businesses and their efforts to train staff
• $118,383 for youth retention / attraction in support of nine youth internships
• $122,255 for access to capital in support of the Community Ventures Capital Fund and seven façade improvements in local commercial business districts

“The EODF funding allows our organization to invest in projects to diversify and strengthen the Grenville County economy, create business opportunities and create jobs”, reported Ms. Renata Kimmerly, GCFDC Chair.

GCFDC is currently accepting applications for Phase II of EODF with the next application deadline date being July 13, 2005.  Complete details and program applications are available at www.grenvillecfdc.com.

The EODF is a Government of Canada initiative which seeks to promote socio-economic development in rural Eastern Ontario, encourage a competitive and diversified regional economy, and contribute to the successful development of business and job opportunities and sustainable, self-reliant communities.  The EODF responds to a commitment made by the Government of Canada in Budget 2004 and 2005 to assist economic renewal in Eastern Ontario by investing in the local economy.

For more information please contact:

Heather Lawless, Executive Director 
Grenville Community Futures Development Corporation 
925-4275 Ext. 21 / 877-925-4275 Ext. 21