May 5, 2005

BANCROFT, Ontario, May 5, 2005 — The Honourable Mauril Bélanger, Deputy Leader of the Government in the House of Commons and Member of Parliament for Ottawa–Vanier, on behalf of the Honourable Joe Comuzzi, Minister of State (FedNor), today announced Government of Canada support of $173,000 to the Community Futures Development Corporation (CFDC) of North & Central Hastings and South Algonquin.  The funding will help the CFDC implement three projects under the Business Development component of the Eastern Ontario Economic Development Fund (EODF), including two community capacity projects and one regional project.

“Our government is committed to helping rural Ontario communities build capacity, stimulate business growth and create jobs,” said Minister Bélanger.  “This CFDC can now prepare area properties for commercial development and assist local youth in gaining entrepreneurial skills.”

The EODF is a $10 million Government of Canada initiative announced during the spring of 2004. It 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.

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.

“This funding will enable use to attract investors to the area and deliver a valuable program to young business people throughout the region,” said Bruce Walker, Chair of the CFDC of North & Central Hastings and South Algonquin.

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 these initiatives 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 Joe Comuzzi
(613) 947-5850

Robert Naud
Senior Communications Officer, Industry Canada/FedNor
(613) 954-3691 or 1 877 333-6673